Stock market inches up 3.57 points

- POST REPORT, Kathmandu

May 17, 2014-

The Nepal Stock Exchange (Nepse) inched up 3.57 points last week to close at 853.2 points. The market, which opened at 849.63 points on Sunday, gained 3.05 points on Monday before falling slightly on Tuesday. The benchmark index recovered 1.14 points on Thursday.

Ram Krishna Tiwari of Oxford Securities said there was not much pressure, neither buying nor selling, last week. “Most of the investors were seen booking profits,” he said.

Of the nine trading groups, five posted gains. Hotels gained 68.55 points. Tiwari said high demand for Soaltee Hotel shares pushed the sub-index up. Groups representing hydropower companies, development banks and commercial banks also saw their indices rise.

However, finance, insurance and manufacturing companies lost points. Tiwari said insurance companies, which were ‘overpriced’, have started to lose investors’ attraction. The trading group was stable at 182.83 points.

The sensitive index, which measures the performance of ‘A’ class companies ended at 181.34 points, up 1 point.

Soaltee Hotel posted the highest individual transaction (Rs 152.804 million). National Life Insurance, Chilime Hydropower Company, Civil Bank and Global IME Bank rounded out the top five. A total of 541,427 units of Nabil Balance Fund shares changed hands last week to propel the company to the top spot in terms of the number of shares traded. The overall market transaction, however, declined 36.51percent to Rs 1.51 billion. The number of traded shares also fell to 3,636,880 from 5,709,930. Transaction of ‘A’ class companies stood at Rs 590 million, 38.84 percent of the total market transaction.

Published: 18-05-2014 09:17

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