Nepal | September 30, 2020

Benchmark index snaps 14 weeks of bull run

Himalayan News Service
Share Now:

Figures in rupees per dollar. Source: NRB
Figures in rupees per tola. Source: FNegosida

Kathmandu, April 2

The 14 consecutive week-on-week share market bull-run came to a screeching halt, as the Nepal Stock Exchange (Nepse) index entered a correction mode, dipping by 1.66 points or 0.12 per cent, in the week of March 27 to 31.

The benchmark index, which had opened at a previous high of 1,357.14 points on Sunday had surged by 20.19 points to a fresh peak of 1,377.33 points by the day’s closing. On Monday, when the Securities Board of Nepal (SEBON) alerted stock investors to adopt caution, the Nepse index shed 2.58 points.

Even as the securities market regulator had issued such warning around two weeks ago as well, investors seemed to have heeded to the advice this time around, as the local bourse continued southbound for the remainder of the week — down 4.71 points on Tuesday, 7.06 points on Wednesday and 7.5 points on Thursday.

Altogether, 6.81 million shares of 145 companies that amounted to Rs 3.88 billion were traded through 17,544 transactions during the week. The traded amount was 13.16 per cent higher than the preceding week when 16,047 transactions of 6.58 million scrips worth Rs 3.43 billion had been undertaken.

The sensitive index, which gauges the performance of class ‘A’ stocks, dipped 0.09 per cent to 292.22 points. However, the float index that measures the performance of shares actually traded inched up 0.11 per cent to 97.66 points.

Even as five subgroups landed in the green, the gain was offset by the loss of three subgroups — mainly insurance and others. Trading, meanwhile, continued to hold steady at 201.38 points.

Finance led the pack of gainers, with the subgroup ascending 1.73 per cent to 687.59 points. Citizen Investment Trust surged by Rs 130 to Rs 3,880, Guheshwori Merchant advanced Rs 58 to Rs 338, and Central edged up six rupees to Rs 233, among others.

Share value of Unilever Nepal went up by Rs 495 to Rs 29,000, which in turn helped the manufacturing subgroup to record a rise of 1.28 per cent to 2,024.73 points.

Compared to the previous week’s surge of 3.23 per cent, the gain made by commercial banks was muted this time, with the sub-index up 1.11 per cent to 1,247.6 points. Standard Chartered rose by Rs 48 to Rs 3,018, Nabil by Rs 75 to Rs 2,060 and Everest by Rs 35 to Rs 2,705.

Hotels and hydropower subgroups barely managed to land in the green, with the sub-indices up 0.69 per cent to 1,791.39 points and 0.23 per cent to 2,323.74 points, respectively.

On the other hand, insurance saw the previous week’s gain of three per cent wiped out as the subgroup dropped by 4.16 per cent to 6,073.06 points. Nepal Life Insurance plunged by Rs 225 to Rs 3,600, Life Insurance Co Nepal by Rs 175 to Rs 3,580, and Prudential by Rs 107 to Rs 850, among others.

Similar was the fate of others subgroup, which dropped 2.66 per cent to 817.67 points, weighed down by Nepal Telecom’s share value sliding by Rs 19 to Rs 696.

Development banks went down 0.48 per cent to 1,354.31 points.

Nepal Life Insurance Co topped the chart in terms of turnover with Rs 347.47 million, followed by Nepal Bank with Rs 266.77 million, Citizens Bank International with Rs 187.96 million, Everest Bank with Rs 184.72 million and Sanima Bank with Rs 166.94 million.

Nepal Bank was the forerunner in terms of number of shares traded with 666,000 of its scrips changing hands, while Citizens Bank International secured the top spot for most number of transactions — 908.

A version of this article appears in print on April 03, 2016 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Diogo Jota

Liverpool maintain 100% start with win over Arsenal

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...

Fulham, Aston Villa, Ivan Cavaleiro, Matty Cash

Villa beat Fulham 3-0 to move into top four

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...

Private hospitals, labs to charge Rs 3,899 for PCR test

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...

President issues ordinances on acid attack punishment, acid sale regulation

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...

Editorial: Unemployment problem cannot be addressed unless all levels of govt work together to create jobs within the country

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...

Ayurvedic literature: Delving into its history

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...

Six student leaders arrested for staging protest outside Chinese Embassy in Kathmandu

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...

Woman found dead in Saptari district

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...