Category: Stock Taking
The secondary market of Nepal bid farewell to the year 2069 on a sweet note. However, profit booking cooled down the market a bit. The benchmark Nepse index descended 14.41 points or 2.77% to settle at 520.69 while the session’s high was on 17 March with 535.10 and lowest on 31 March with 511.45.
While the fourth quarterly reports of the previous fiscal year were coming in, it looked like that the share market of Nepal was going to get another boost. Almost all the banks and financial institutions (a sector that dominates this market) were reporting increased profit for the previous year. But that did not happen. The benchmark Nepse index lost 11.53 points or 2.91% to rest at 396.83 at the end of the review month. The session’s high was on 23 July (408.36) and the low was on 15 August (392.03).
Sentiments improved among the stock market investors ahead of the 4th quarter results due early August from the companies despite sour data received in the 3rd quarter. Investors seem optimist of dividend declaration for the FY 2068/69 BS (2011/12). As a result, the benchmark Nepse index went up 31.27 points or 7.72% to 405.02 during the review period when the session’s high was on 23 July with 408.35 and the low was on 26 June with 368.480.
The Kathmandu stock exchangeebbedout marginally during the Dashain-Tihar festival season of this year as the dip in the prices of banking stocks pulled the index for most of the session.