The benchmark index is taking a dip in recent weeks due to the ongoing Tarai turmoil and undeclared economic blockade by India. Analysts say that the market, which was expected to be on a bullish trend in this dividend distribution season, is on a downward course due weak investors' sentiment because of worsening situation in Tarai districts."The constitution has been promulgated. Listed companies are announcing handsome returns. Bank and financial institutions are announcing big bonus shares. Despite these positive fundamentals, the benchmark index is falling over the past few weeks. Unrest in Tarai is driving the market down," a stock broker told Republica. "It seems that the government is not doing the needful to resolve the crisis which is hitting the economy hard."
The Nepse index shed values in three out of four trading days this week. The benchmark index went up by 7.67 points on Thursday.
All trading groups posted loss this week. Insurance group was the biggest loser, as its sub-index plunged 147.46 points to close at 4,597.42 points. The sub-indices of Hotels and Banking groups also fell down by 51.69 points and 33.1 points, respectively, to settle at 1,779.28 points and 1,016.35 points. Hydropower group also ended 26.19 points lower at 1,779.28 points. The Development Bank and Finance sub-indices also fell 25.18 points and 6.46 points, respectively, to close the week at 922.41 points and 557 points. 'Others' group also shed 3.52 points to close at 746.02 points.
'Trading', and Manufacturing and Processing groups remained unchanged at 207.97 points and 1,886.14 points, respectively.
A total of 1.33 million units of shares of 116 companies worth Rs 804.44 million were traded in the market through 5,647 transactions.
Nepal Investment Bank Ltd (Promoter) topped the list of companies in terms of highest turnover (Rs 85.67 million) and number of shares traded (105,000 units of shares) this week. Similarly, Barun Hydropower Company Ltd remained at the top in terms of number of transactions (1,030).
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