NEPSE down by 10.73 points in first day's trading

KATHMANDU, May 31: The Nepal Stock Exchange (NEPSE), taking a corrective turn after making significant gains last week, ended up losing 10.73 points to close at 707.89 points at the end of the Sunday´s trading.

With the Banking and the Others group´s sub-indices posting double-digit losses, the NEPSE dipped by 1.49 percent during Sunday, the first day of this week´s trading. Analysts, however, say that NEPSE´s dipping into the red is only natural after the period of sharp rise that was witnessed in the past few days. The market is only taking its normal course.

Last week, the NEPSE closed 30.55 points higher than Sunday´s close of 688.07 points, to end at 718.62 points on Thursday, the last day of trading.

The index of the Banking group took a nose dive with the decline of share prices of Bank of Kathmandu, Nabil Bank, Nepal SBI Bank and Standard Chartered Bank. The Banking group, which holds a major chunk of the stock market, saw its index drop by 13.83 points to end at 722.72 points during Sunday´s trading.

But the Others group and the Hydropower group rallied 17.62 points and 1.18 points to close at 699.05 points and 887.48 points, respectively.

And the indices of the Hotel and Development Bank gained 1.45 points and 0.39 points to reach 366.45 points and 756.91 points, respectively. On a similar note, the Finance group and the Insurance group also moved into the green zone by 1.25 points and 1.2 points to get to 760.8 points and 651.97 points, respectively.

During Sunday´s trading, a total of 208,460 shares, worth Rs 91.28 million, were traded through 962 transactions. The total market capitalization--the total worth of all the shares listed by companies--stood at Rs 453.52 billion.

Source:
Myrepublica.com