Stock market plunges 30.91 points

- POST REPORT, Kathmandu
Stock market plunges 30.91 points

Sep 6, 2014-

Nepal Stock Exchange (Nepse) last week plunged 30.91 points to close at 921.69 points. The market, which opened at 952.6 points on Sunday, shed points every trading day.

Pramod Sapkota, managing director of Sani Securities, said the market plunged as institutional investors were least interested in making heavy investment. “After the market fell in the previous week, investors seemed to have adopted caution,” he said, adding investment from small investors has also slowed.

Of the nine trading groups, seven lost points. The group representing insurance companies (down 238.08 points) led the losers’ side comprising hydropower, hotels, development banks, commercial banks, ‘others’ and finance companies.

The manufacturing group was the only gainer last week, while the trading group was non-mover at 188.42 points. The sensitive index, which measures the performance of blue chips, declined 6.19 points to 198.59 points.

The market transaction was down 34.23 percent to Rs 1.66 billion, while the number of shares traded decreased to 3,778,020 from 5,173,910 over the week.

Chilime Hydropower posted the highest individual transaction—Rs 128.06 million. Everest Bank, Nabil Bank, Nepal Bank and NCC Bank rounded out the top five. Nabil Balance Fund, with 656,000 units of its shares changing hands, topped in terms of the number of shares traded.

Meanwhile, Nepse listed bonus shares of Metro Development Bank, Pathivara Development Bank and Prudential Insurance last week.

Published: 07-09-2014 09:39

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