Nepal | September 21, 2020

Benchmark index surges by 2.17pc

Himalayan News Service
Share Now:

Kathmandu, August 16

The Nepal Stock Exchange (Nepse) index jumped to a near seven-year high on Sunday with the bull run at the stock market continuing since the past few weeks. The benchmark index surged by 23.63 points or 2.17 per cent to end the day at 1112.05 points. The Nepse index was at a similar level on September 1, 2008, when it was at 1,134.39 points.

On Sunday’s bull run at the stock market was led by banking sector. Banking sub-index rose by 32.79 points or 3.21 per cent to 1,054.13 points. Banking shares are being taken as a lucrative investment after Nepal Rastra Bank raised paid-up capital requirement of commercial banks by four times. Commercial banks have to increase their paid-up capital from the existing Rs two billion to Rs eight billion by mid-July 2017.

In terms of total turnover, commercial banks ranked in the top five position with Machhapuchhre Bank, Everest Bank, NIC Asia Bank, Sanima Bank and Nepal Bangladesh Bank leading the rankings.

Besides banking sector, hotels, hydropower and others subgroups also ended with gains as their sub-indices went up by 0.67 per cent, 1.21 per cent and 5.47 per cent to end at 1,888.27 points, 2,126.95 points and 769.51 points, respectively. However, the sub-indices of development banks, finance and insurance ended in the red zone as they dropped by 1.12 per cent, 0.22 per cent and 0.03 per cent to end at 847.27 points, 538.07 points and 4,608.18 points, respectively.

The sensitive index, which measures the performance of blue chip stocks, surged by 2.66 per cent to 241.06 points. Likewise, the float index rose by 1.66 per cent to 78.74 points. A total of 1,615,436 units of shares of 133 firms worth Rs 988.88 million changed hands through 6,517 transactions on Sunday.

On Sunday’s top five gainers were led by Nepal Investment Bank (Promoter Share), Nepal Investment Bank and Global IME Bank whose share value went up by 10 per cent each to Rs 792, Rs 1,100 and Rs 550, respectively. Likewise, share price of Shikhar Insurance Company and Butwal Power Company increased by 9.99 per cent and 9.97 per cent to Rs 958 and Rs 640, respectively.

A version of this article appears in print on August 17, 2015 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Bollywood actress Payal Ghosh accuses Anurag Kashyap of sexual harassment, filmmaker calls it baseless

KATHMANDU: Bollywood actress Payal Ghosh has accused Indian filmmaker Anurag Kashyap of sexually harassing her, which the latter denied, and dismissed the claims as baseless. On September 19, Ghosh took to Twitter and wrote that Kashyap was sexually inappropriate towards her. Tagging Indian Prime Read More...

Photo Gallery: Rohingya refugees receive relief in Kapan amid COVID-19 crisis

KATHMANDU, SEPTEMBER 21 Hiteri Foundation provided food relief packages to long-persecuted Rohingya Muslim refugees here in Kapan on Sunday, September 20. More than 175 families are taking shelter in Kapan after entering Nepal following a mass exodus from their native Myanamar. Also seen in pi Read More...

Nepali Army soldier Nepal’s first security person to die of COVID-19

KATHMANDU, SEPTEMBER 20 Country witnessed the first death of a security person due to COVID-19. The deceased, a 34-year-old soldier of Nepali Army was posted in Kathmandu. He hailed from Ramechhap district. However, Nepali Army has not yet revealed the identity of the deceased. The deceased wa Read More...

Mane double eases Liverpool to 2-0 win over 10-man Chelsea

LONDON: Two goals from Sadio Mane just after halftime eased champions Liverpool to a 2-0 win over 10-man Chelsea in the Premier League season's first heavyweight clash at Stamford Bridge on Sunday. A dull game never threatened to live up to the eight-goal thriller when the sides met in Read More...

Son and Kane combination leads Spurs rout of Southampton

SOUTHAMPTON: Son Heung-min scored four goals set up by Harry Kane as Tottenham Hotspur came from a goal down to overwhelm Southampton 5-2 on Sunday and earn their first Premier League win of the season. In an action-packed first half at St Mary's, both sides had a goal ruled out by VAR before Read More...

Women, children highly affected by COVID pandemic

KATHMANDU, SEPTEMBER 20 The National Women Commission today organised a webinar on ‘Impact of COVID-19 on Women and Initiatives Taken by NWC and Nepal Police in Addressing Gender Based Violence Issues’ to highlight impact of pandemic on women and children across the country. According to t Read More...

Thapa vows to establish RPP as strong force

KATHMANDU, SEPTEMBER 20 Chairperson of Rastriya Prajatantra Party Kamal Thapa today pledged to establish the party as a strong force. The country would become prosperous and sovereign only by pursuing the ideology RPP as Nepal is faced with complex geo-political situation, he claimed at a virt Read More...

NCP Secretariat dwells on Cabinet reshuffle

KATHMANDU, SEPTEMBER 20 The Secretariat of the ruling Nepal Communist Party (NCP) today began discussion on Cabinet reshuffle. NCP Spokesperson Narayan Kaji Shrestha said the meeting discussed policy issues regarding the Cabinet reshuffle from different angles, but it did not take a decision o Read More...