Benchmark index at a six-month high
KATHMANDU, SEPTEMBER 2
The only secondary market in the country breached the psychological threshold of 1,500 points after six months today.
As per share market analysts, the Nepal Stock Exchange (Nepse) has been bullish recently as investors have flocked to the secondary market in lack of other investment avenues.
With a jump of 1.72 per cent or 25.58 points, Nepse index closed at 1,510.57 points today. The last time the benchmark index had closed at the current level was back in March 3, when it had settled at 1,509.68 points.
Similarly, sensitive index advanced by 2.1 per cent or 6.25 points to 304.60 points.
Float index, meanwhile, rose by 1.67 per cent or 1.72 points to 104.89 points.
Altogether 9.69 million shares of 186 listed companies were exchanged through 45,272 transactions today that amounted to a whopping Rs 4.18 billion.
Apart from life insurance and non-life insurance subgroups — which were overheated and due for correction — all the subgroups recorded gains today.
Hydropower sub-index soared by 9.3 per cent or 94.22 points to 1,107.20 points. Others too surged by 3.93 per cent or 37.11 points to 981.90 points.
Among the companies whose share value surged by the maximum permissible limit of 10 per cent included Api Power Company, Ridi Hydropower Development Company, Joshi Hydropower Development Company, Panchthar Power Company, Ngadi Group Power Ltd, among others.
In contrast, Prabhu Insurance’s share price slumped by 4.41 per cent to Rs 585, followed by Prudential Insurance’s down 4.01 per cent to Rs 527.
Nepal Reinsurance Company had the highest number of shares traded (732,871) in the most number of transactions (5,932) and highest daily turnover (Rs 674.24 million) among the listed firms.
A version of this article appears in e-paper on September 3, 2020, of The Himalayan Times.