Nepal | July 11, 2020

Benchmark index sheds 1.07 per cent

Share Now:


The Nepal Stock Exchange (Nepse) resumed trading today, but plunged four per cent or 48.16 points in the first 40 minutes. At one point of time it had declined by 52 points, but soon after that buyers started dominating the market which gradually led to the stock market recovering 50 points to hover around 1,200 points at 2:35pm.

By the end of the trading day, the benchmark index had lost 1.07 per cent or 12.87 points to settle at 1,188.70 points. The turnover today stood at Rs 347.80 million which was achieved through the trade of 970,171 units of shares of 130 listed companies changing hands through 4,863 transactions.

Radha Pokharel, chairperson of Nepal Pujibazar Laganikarta Sangh, mentioned that since the market had reopened after a long time most investors were in a ‘wait and see’ mode due to which the market was southbound on the opening day.

“The coronavirus pandemic has largely affected the economy, which was reflected in Nepse today,” she said, adding, however, that she expected the market to rise in the coming days.

In line with the Nepse index, the sensitive index also fell by 1.55 per cent or 4.03 points to 256.29 points, while the float index dropped by 1.73 per cent or 1.47 points to 83.53 points.

Meanwhile, the trading, manufacturing, life insurance and others subgroups were in the green zone today, while the remaining subgroups dropped significantly. Shareholders of Citizen Investment Trust saw their share value gain 9.99 per cent today.

Similarly, Himalayan Distillery, Nepal Investment Bank and Nepal Investment Bank (Promoter Share) gained more than nine per cent.

However, Swabalamban Laghubitta Bittiya Sanstha, Nepal Reinsurance Company, Asha Laghubitta Bittiya Sanstha and Infinity Laghubitta Bittiya Sanstha saw a steep dive of over nine per cent today.

The secondary market reopened today after the Securities Board of Nepal (SEBON) directed the management of Nepse to do so after receiving heavy criticism for keeping the market shut even as banks and financial institutions, insurance firms and other companies had been allowed to reopen by the government.

The country’s sole secondary market had been shut since more than three months due to the unfavourable circumstances caused by the COVID-19 spread in the country.

In between this period, Nepse was able to open for only two days due to rising COVID-19 cases and the continuous lockdown.

Nepse had resumed trading on May 12 after a 50-day break, as per the direction of SEBON. However, it remained open for only two days after the benchmark index tumbled noticeably.

A version of this article appears in e-paper on June 30, 2020, of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Slick United ease to another win at struggling Villa

BIRMINGHAM: Manchester United kept up their impressive chase for a top-four spot with a comfortable 3-0 win at relegation-threatened Aston Villa in the Premier League on Thursday. The victory means United, who are now unbeaten in 17 matches in all competitions, became the first team s Read More...

Ward chair’s hand suspected in fertiliser black marketing

RAUTAHAT, JULY 9 While fertiliser crunch has affected farmers in Rautahat badly, complaints of black-marketing have also increased of late. As per a finding, fertiliser bought in the name of Srijansil Agriculture Cooperatives Limited, Bagmati Saving and Credit Cooperatives Limited and Unnatish Read More...

Nepal received India’s diplomatic note on the country’s new map last month, says NA panel

KATHMANDU, JULY 9 The Government of India had sent a diplomatic note to Nepal’s Ministry of Foreign Affairs after the Government of Nepal published a new political and administrative map of the country, depicting Limpiyadhura, Lipulekh and Kalapani as the country’s territories. Chair of th Read More...

One-on-one meeting of NCP co-chairs postponed

KATHMANDU, JULY 9 The much anticipated one-onone meeting between co-chairs of the ruling Nepal Communist Party (NCP) Prime Minister KP Sharma Oli and Pushpa Kamal Dahal did not take place today. Deputy Parliamentary Party leader of NCP Subas Chandra Nembang, who is close to PM Oli, told THT th Read More...

Preparations on to prevent possible disaster

BHOJPUR, JULY 9 A multi-party meeting of Bhojpur District Disaster Management Committee held under the chairmanship of Chief District Officer Basanta Raj Puri today decided to be prepared for any eventuality that may occur due to the monsoon. Federal lawmaker Sudan Kiranti was also present at Read More...

Bharatpur Hospital

Bharatpur Hospital providing dialysis service to COVID patients

CHITWAN, JULY 9 Bharatpur Hospital, which is treating coronavirus infected people of Chitwan and its surrounding areas, has also started providing dialysis service to coronavirus-infected kidney patients. Kidney disease specialist at Bharatpur Hospital, Dr Santosh Gurung, said the hospital had Read More...

Infection rate high among returnee migrants

RAJBIRAJ, JULY 9 High rate of COVID-19 infection has been seen among people returning from third countries at present, while the infection rate was high among returnees from India two months ago in Saptari. According to District Public Health Office, of the 154 COVID infected persons being tre Read More...

Landslide sweeps away water pipes in Dhading

DHADING, JULY 9 Locals at Chhumrang Village are facing acute drinking water crisis after landslides swept away drinking water pipes at Rubivalley Rural Municipality, in Dhading. The villagers are compelled to drink collected rainwater as they cannot clear away the mudslip to connect the pipes Read More...