The capital market failed to sustain the gains made in the previous week with the Nepal Stock Exchange (NEPSE) index falling by 9.01 points. NEPSE started off with at 707.89 points on Sunday, the highest it reached last week. The index closed at 698.88 points on Thursday, the last day of trading. The index saw crossing the threshold of 700 points four days of the previous week.
The sensitive index that measures the transaction of 'A' class companies declined and the floor index that measures ordinary shares also went down. The sensitive index decreased by 0.84 points and floor index by 0.58 points. Altogether, 608,464 shares worth Rs. 345.1 million were traded over the week in 5,346 transactions. Moreover, Rs. 447,755.80 million market capitalization was registered over the week.
Last week saw the Nepal Rastra Bank initiating liquidation process of Nepal Development Bank citing its vulnerable financial position. Following the central bank decision on Tuesday, the NEPSE stopped its trading from Wednesday. It has been argued that the NRB action against Nepal Development Bank and the fluid political situation also contributed to downfall in the NEPSE index last week.
In the primary market, Vibor Development Bank is set to open its Initial Public Offerings (IPO) to the general public on June 10. In another development, Citizens Bank International and Bank of Asia were listed on the stock exchange last week and will begin trading this week.
In a sector wise analysis almost all the sub indices declined with only development bank group gaining by 13.06 percent. Hydropower group saw its index decline by 26.09 percent, others by 23.49 percent, insurance by 7.61 percent, commercial banks by 5.61 percent and finance companies' group by 1.62 percent. Manufacturing, hotels and trading groups saw remained stabel.
Nepal Credit and Commerce Bank topped in terms of amount of transaction with Rs.40.7 million and the Prabhu Finance gained first place in terms of number of share traded with 2274 units.
weekly review
Date Nepse Index (in points) Total Turnover
04/06/09 698.88 61,248,681
03/06/09 699.62 84,755,490
02/06/09 703.01 68,876,545
01/06/09 699.95 39,020,543
31/05/09 707.89 91,283,741
Top Five in turnover
Company Turnover Amount
NCC Bank 40.75
Standard Chartered 36.49
Prabhu Finance 36.45
Paschimachal Dev. Bank 27.44
Bank of Kathmandu 19.21
Source
Jamb News Service
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Sunday, June 7, 2009
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