It was one more week of secondary market declining. With investors more interested in the primary market and the right share issuance, Nepal Stock Exchange (NEPSE) had bearish run last week.
All the major indicators of the NEPSE (NEPSE index, sensitive index and float index) recorded a decline last week. Compared to the first day of the trading, NEPSE index and sensitive index went down by 8.62 points and 3.16 points respectively.
The NEPSE index dropped on the first four days with a little upsurge on Thursday. Stock analysts attribute the decline of NEPSE index to the downturn of commercial banks, insurance, finance and development banks stocks. Among the sub-indices, finance and development bank suffered double digit drop while the banking sector had 7.07 points decline. Hydropower was the only sector that saw a growth last week with 18.83 points increment.
The same was the story with the total turnover and number of traded shares. NEPSE's turnover declined by 1.76 percent compare to the previous week. NEPSE had total turnover of Rs. 226.91 million through transactions of 392,008 units of shares.
Nepal Credit and Commerce (NCC) Bank topped the chart in terms of turnover and amount of transactions and the number of shares traded. NCC shares worth Rs. 27.3 million were traded and through its 94000 units of shares. Eighty-one companies were present at the trading floor of NEPSE last week.
The oversubscription of Initial Public Offering (IPO) of Arun Valley Hydropower shows investors preferences. With Public Developm-ent Bank's IPO coming up, the secondary market may continue its downward trend this week also.
weekly review
Date Total Turnover (Rs. in million) Nepse Index (in points)
25/06/09 63.55 670.61
24/06/09 33.54 670.25
23/06/09 49.27 671.47
22/06/09 29.13 678.52
21/06/09 51.40 679.23
Top Five in turnover
Company Turnover Amount
NCC Bank 27.32 million
Standard Chartered Bank 23.79 million
Nabil Bank 12.26 million
Bank of Kathmandu 11.00 million
Nepal SBI Bank 10.17 million
Souce: EKantipur
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Sunday, June 28, 2009
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