Kathmandu, November 4
The Nepal Stock Exchange (Nepse) index dropped by 1.99 per cent or 30.91 points during the trading week between October 29 and November 2. The benchmark index, which had opened at 1,553.72 points on Sunday closed at 1,522.81 points on Thursday.
The country’s sole secondary market was southbound throughout the five trading days of the week. The benchmark index had dropped to 1,540.23 points by the time of closing on Sunday, to 1,536.72 points on Monday, to 1,533.53 points on Tuesday, to 1,526.51 points on Wednesday and to 1,522.81 points on Thursday.
Following Nepse index’s lead, the sensitive and float indices also dropped in the review period. The sens
itive index slipped by 2.57 per cent or 7.38 points to 319.64 points and the float index dipped to 109.52 points, down 2.18 per cent or 2.44 points in the week.
Analysts said that the market was affected by the first quarter reports of financial institutions that have majority share in the secondary market. “Investors had expected that the financial institutions would be able to maintain their earnings per share in the first quarter of the fiscal year. However, with their huge capital base, the financial institutions were unable to fulfil the expectations of investors, thereby dragging down investor sentiment,” explained Dhruba Timilsina, chief executive officer of Siddhartha Capital.
Timilsina also pointed out that investors are concerned about how the government will implement the federal system after the elections and how the centralised resources will be decentralised.
“Some policies are yet to be formed and investors are closely watching how the government will take decisions on decentralising the centralised resources,” he stated.
During the week, the sub-index of class ‘A’ financial institutions dropped by 2.22 per cent or 29.66 points to 1,301.31 points. Share price of commercial banks like Everest, Nepal Investment and Nabil dropped during the review period. Share value of Everest Bank dropped by 2.54 per cent to Rs 1,190 per unit, that of Nepal Investment Bank fell by 2.48 per cent to Rs 628 and Nabil’s dropped by 1.62 per cent to Rs 1,215 per unit during the review period.
Sub-index of development banks dipped by 3.07 per cent to 1,825.27 points during the week. Share price of Jyoti Bikash Bank fell by 2.7 per cent to Rs 180 per unit during the review period.
Nepse separated the indices of development banks and microfinance institutions on Wednesday. Subsequently, the sub-index of microfinance closed at 1,818.26 points on Thursday, down 14.26 points.
The hotels sector fell by 2.88 per cent or 68.41 points during the week to 2,310.91 points.
Likewise, the sub-index of manufacturing also dipped by 1.03 per cent or 25.58 points to 2,447.43 points.
The sub-index of insurance sector slipped to 8,392.73 points, dropping by 125.5 points or 1.47 per cent in the review period. The finance sector fell by 8.42 points or 1.07 per cent to 774.99 points.
Similarly, the sub-index of others, hydropower and trading sector dipped slightly during the week. Others sector landed at 829.17 points, falling by 7.23 points or 0.86 per cent. Likewise, hydropower sector fell by 6.12 points or 0.33 per cent to 1,826.96 points. Trading sector also dipped by 1.85 points or 0.81 per cent during the review period.
Altogether, 6.63 million shares of 181 companies worth Rs 2.24 billion were traded through 22,882 transactions during the week. The traded amount was 31.27 per cent higher than the total weekly turnover of the previous week.
Rastriya Beema Company secured the top position in terms of total turnover with Rs 113.27 million. It was followed by Nepal Bangladesh Bank with Rs 83.32 million, Nepal Doorshanchar Company with Rs 78.8 million, Nepal Life Insurance Company with Rs 69.5 million and Standard Chartered Bank with Rs 63.4 million.
Jyoti Bikash Bank topped the list in terms of trading volume, with 358,000 of its shares changing hands and Nepal Grameen Bikas Bank was the forerunner in terms of number of transactions — 2,426.
|Gurans Life Insurance Company||Bonus||440,000|
|Nepal Grameen Bikas Bank||Ordinary||975,000|
A version of this article appears in print on November 05, 2017 of The Himalayan Times.
LIVERPOOL: Premier League champions Liverpool maintained their 100% start to the season with a 3-1 win against Arsenal at Anfield on Monday leaving them level on nine points with pacesetters Everton and Leicester City. The visitors took the lead through an Alexandre Lacazette strike but L Read More...
LONDON: Aston Villa moved into the Premier League top four after they strolled to a 3-0 win at Fulham thanks to goals from Jack Grealish, Conor Hourihane and Tyrone Mings in a lopsided contest on Monday. The result left Villa, who narrowly avoided relegation last season, fourth on a maximu Read More...
KATHMANDU, SEPTEMBER 28 Private hospitals have fixed their own rate for conducting polymerase chain reaction tests, saying that the fee allocated by the Ministry of Health and Population was too less. Eight private hospitals and labs, including HAMS Hospital, Star Hospital, B&B Hospital an Read More...
KATHMANDU, SEPTEMBER 28 President Bidhya Devi Bhandari today issued two ordinances to increase jail sentence for acid attackers and to regulate the sale and distribution of acid and other harmful chemicals. One of the ordinances amended the new penal code, proposing to increase jail term for a Read More...
The unemployment problem cannot be addressed unless all levels of govt work together to create jobs within the country Unemployment is a big problem in Nepal. That is why youths in large numbers migrate to other countries, mostly India, the Middle East, Malaysia, South Korea and Japan, where they e Read More...
The travelogue of Chinese pilgrim Faxian was the earliest testimony to describe the healthcare system in ancient South Asia. It is close to the description by the earliest Ayurvedic compendium, Charaka Samhita Ayurveda has become a buzzword in the contemporary setting of medicine in the era of COVI Read More...
KATHMANDU, SEPTEMBER 28 Six student leaders of Nepal Student Union, the student wing of major opposition Nepali Congress, were arrested today for staging a protest outside the Chinese Embassy at Baluwatar against the alleged border encroachment by the Chinese side in Humla district. The NSU le Read More...
A police team has been deployed from Province Police Office, Janakpur, to investigate the case RAJBIRAJ, SEPTEMBER 28 A 50-year-old woman was found dead at Mayanakaderi village, Ward No 2 of Tirhut Rural Municipality, Saptari, yesterday. The body of Dayaman Devi, wife of local Shiv Narayan, w Read More...