Global Bank dominates Nepse

Global Bank dominated the Nepse this week as it topped the chart in terms of share units traded, trading amount and number of transactions with 29,000-unit shares through 423 transactions at Rs 17.28 million.
Experts, however, suspected matching that has fueled the performance of Global Bank this week. This is the second week the bank's shares started trading in the secondary market.
"Share matching -- a process of transferring shares to one's name from other's in mutual consent -- might be the reason behind the latest entrant Global Bank's performance," suspected Rabindra Bhattarai, a share analyst.
Though some brokers claim that matching is not possible in the automated system others believe its still in practice in some way or other.
Of the nine-sub groups' indices, the four sub-groups -- commercial banks, hotels, others and manufacturing -- surged to push the Nepse up, albeit marginally, but the equal number of sub-groups -- development banks, finance companies, insurance companies and hydropower -- lost whereas only one -- trading -- sub-group remained constant as it did not see any transaction this week.
The other sub-group gained 7.04 points -- the highest for the week -- to 618.00 points, whereas the manufacturing sub-group came second with 6.27 points gain to 434.05 points. The commercial banks sub-group gained 3.86 points to 664.72 points and hotels sub-group gained 2.17 points to 361.66 points.
However, development banks sub-group's index plunged by 15.31 points to 842.51 points and hydropower sub-group shed 11.05 points to 864.45 points. Similarly, the insurance companies sub-group lost 4.08 points to 657.47 points and finance companies sub-group lost 1.97 points to 761.35 points.
This week's top performers were Global Bank (with Rs 17.28 million), Standard Chartered Bank Nepal (with Rs 8.99 million), Gurkha Development Bank (with Rs 8.56 million), Bank of Kathmandu (with Rs 7.33 million) and Nabil Bank (with Rs 5.21 million).
This week witnessed only three-day trading -- due to a public holiday on Tuesday of Nepali New Year and a day of strike by Nepse's employees halting trading -- unlike its regular five-day trading last week.
The week started in red as on Sunday, the Nepse shed 0.21 point to 660.15 points from the morning's opening of 660.36 points. However, Monday witnessed a gain of 1.12 points to 661.27 points. Nepse continued to gain on the last day of the trading for this week with 1. 44 points to close the market at 662.71 points.
The major players surge pushed the Nepse this week by 2.35 points to close at 662.71 points from the Sunday's opening of 660.36 points.
Similarly, the 78-scrip sensitive index -- considered the blue chip shares in the domestic market -- also gained 0.82 point to 176.66 points from Sunday's opening of 175.85 points. The float index -- calculated on the basis of real transactions -- gained 0.19 point to 64.71 points from the Sunday's opening of 64.52 points.
However, the total transaction amount for this week decreased to Rs 123.5 million from last week's transaction of Rs 188.68 million. The contribution of Group-A companies also dropped to 53.69 per cent against last week's 63.07 per cent.