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| Kathmandu, Sunday February 16, 2003 Falgun 04, 2059. |
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Cease-fire ‘bonus’ ends, Nepse slips by 4 pts
Post Report
KATHMANDU, Feb 15 :
After recording an upsurge for the two consecutive weeks, Nepal Stock Exchange (Nepse)
index, a quick barometer to gauge investors’ confidence, slid by 3.97 point during
the week.
The Nepse index, which
was recorded at 215.18 on the opening day of the week, plunged to 211.21 point on the
closing day Friday, states information provided by Nepse. Last week, the index had gone up
by 3.84 point, while the week previous it had gone up by 4.51 points.
The recovery in the
secondary market recorded during the last two weeks, largely due to cease-fire between the
government and Maoists, geared reverse on the third week after major political parties
drew differences with the government. "This affected the sensitive capital market and
faltering investors’ confidence," said people knowledgeable to the matter.
The plunge in index,
during the week, was due to poor performances of all the groups enlisted at Nepse,
excluding hotels. Even the commercial bank group, which have strong bearing on the
secondary market owing to the weight in carries, was the largest loser in the secondary
market. The index of the group tumbled by over 6 points to 206.30 point from 213 point
during the week, against the last week’s increment of about 5 points.
Other financial groups
including the finance, the development bank and the insurance group too slid in their
indices, albeit marginally. Indices of these groups went down to 229.43 point, 265.89
point and 254.53 point from 230.95 point, 266.28 point and 254.78 point during the week.
Last week, indices of
the finance and the insurance group had slid by over 3 and 10 points respectively, while
that of the development bank had gained 6 points.
The sole gainer of the
stock market, hotels group, however, recorded upsurge in its index by over 5 points to
touch 200.15 point on Friday, against 194.77 recorded on Monday.
Meanwhile, indices of
the manufacturing, the trading and the other groups were maintained at 253.20 point, 92.85
point and 61.19 point respectively throughout the week. While the index of manufacturing
had gone up last week, indices of trading and the other groups were maintained constant
last week as well.
Unlike previous weeks,
the insurance group captured the largest chunk of stock trading carried out at the Nepse
floor. It occupied 43.27 per cent of the total transactions. The regular topper in stock
trading, the commercial bank, captured mere 29.21 per cent followed by the finance group
at 15.53 per cent.
These were followed by
the development bank group (10.73 per cent), hotels group (1.05 per cent), manufacturing
group (0.18 per cent) and others (0.02 per cent).
During the week, a
total of 68,689 share units worth Rs 11.53 million were traded through 3,070 transactions,
while last week, 80,444 share units were traded at Rs 27.27 million through 1,787
transactions.
Nepal Life Insurance
Company topped the list of largest company recording the highest share trading both in
terms of share units, transactions and value. A total of 33,130 shares of the company were
traded through 2,058 transactions at Rs 4.24 million.
Shares of NB Bank,
Everest Bank, Bank of Kathmandu, Nepal Life Insurance Company, Nepal Merchant Bank and
Finance, United Finance, Nepal Development Bank and Development Credit Bank were traded
all the five-day of the week.
Similarly, companies
that saw their shares traded for four days include Himalayan Bank, Oriental Hotels and
Lumbini Finance and Leasing.
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