Kathmandu, June 11
Bullish investor sentiment helped the Nepal Stock Exchange (Nepse) index to record a weekly gain of 48.58 points or 3.2 per cent to overcome the threshold of 1,560 points for the first time.
Starting the week at 1,518.12 points on Sunday, the benchmark index had plunged by nearly 35 points by the day’s closing on the news that the central bank was
introducing stern policy on market lending.
Following the clarification of the central bank against the hearsay, investor confidence got a major boost, which helped the Nepse index recover nearly all the loss of the previous day and surged by 33.66 points on Monday.
Thereafter, the local bourse continued on the upward trajectory — up 14.69 points on Tuesday and 15.31 points on Wednesday.
On Thursday, Nepse surged by 19.9 points to end the week at a fresh all-time high of 1,566.7 points.
The market also recorded its highest ever single-day transaction of nearly Rs 1.90 billion that day, breaking its previous record of Rs 1.65 billion set on May 24.
All in all, 9.24 million shares of 149 companies worth Rs 6.86 billion were traded through 29,812 transactions in the week.
The traded amount was 15.29 per cent higher than the previous week when 27,634 transactions of 10.03 million scrips of 148 firms that amounted to Rs 5.95 billion had been undertaken.
The sensitive index, which gauges the performance of class ‘A’ stocks, rose by 3.3 per cent to 338.82 points. Likewise, the float index that measures the performance of shares actually traded also gained 3.03 per cent to land at 113.71 points during the review period.
Whereas trading remained constant at 201.38 points, hydropower was the only
subgroup to land in the red in the week.
After leading the market rally the previous week, the sub-index of hydropower companies shed 1.89 per cent to 2,453.24 points owing to profit-taking.
Even as share value of Api advanced by Rs 62 to Rs 772, the subgroup was weighed down by stock price of Chilime dropping by Rs 25 to Rs 1,394, and that of Sanima Mai by Rs 24 to Rs 871.
The week’s market rally was led by the insurance subgroup, as the sub-index surged by a whopping 13.47 per cent to 8,654.32 points.
Stock investors have been scooping up the shares of insurance companies in the expectation that the sector regulator will soon require the insurance firms to raise their paid-up capital in the near future.
The share price of Life Insurance Co Nepal went up by Rs 337 to Rs 3,630, that of National Life by Rs 255 to Rs 3,215, and of Shikar Life by Rs 284 to Rs 2,999, among others.
Banking — the heavyweight subgroup — advanced by 1.54 per cent to 1,418.35 points. Stock value of Standard Chartered rose by Rs 50 to Rs 2,950, that of Nabil by Rs 31 to
Rs 2,239 and of Himalayan Bank by Rs 18 to Rs 1,450.
Finance advanced by 1.65 per cent to land at 735.81 points, hotels rose by 1.35 per cent to 1,946.55 points, development banks gained 1.13 per cent to 1,530.49 points, manufacturing climbed 1.12 per cent to 2,339.33 points and others edged up by 1.06 per cent to 785.96 points.
Meanwhile, Nepal Bangladesh Bank topped the chart in terms of all three categories — turnover, number of shares traded and transactions. Altogether 1.02 million of its
scrips changed hands during the week through 2,669 transactions that amounted to
Rs 794.12 million.
Other listed firms that made it to the top five in terms of turnover were Sanima Bank with Rs 538.82 million, Nepal Life Insurance Co with Rs 441.55 million, Citizens Bank International with Rs 322.95 million and Himalayan General Insurance Co with Rs 233.55 million.
KATHMANDU: Nepalaya book publication house has released Dr Sudha Sharma's memoir 'Singha Durbarko Ghumne Mech'. Issuing a press statement, the publication house said, Nepal's Former President Dr Ram Baran Yadav unveiled the book amid special ceremony in Kathmandu, on Saturday. The book chr Read More...
LONDON: Gareth Bale made his first appearance for Tottenham Hotspur for more than seven years but Manuel Lanzini ruined his homecoming with a superb stoppage-time equaliser as West Ham United grabbed an unlikely 3-3 draw on Sunday. Welshman Bale, back in north London on loan from Real Read More...
KATHMANDU, OCTOBER 18 The government has devised a new regulation to make face shields mandatory for passengers travelling in public vehicles. The regulation was introduced in a bid to stem the spread of coronavirus. As Dashain, the country’s biggest festival, has begun, people travelling Read More...
KATHMANDU, OCTOBER 18 The government has decided not to bear test and treatment expenses of coronavirus patients. An individual will have to bear those costs from now onwards. Speaking at a press briefing today Jageshwor Gautam, spokesperson at the Ministry of Health and Population, said the c Read More...
KATHMANDU, OCTOBER 18 Lawmakers of the ruling Nepal Communist Party (NCP) — Bhim Rawal and Janardan Sharma — and Chief Whip of the Nepali Congress in the House of Representatives Bal Krishna Khand have opposed the distribution of Dashain allowance among federal lawmakers. Rawal today wrote Read More...
KATHMANDU, OCTOBER 18 Due to the ongoing pandemic, the head of the nation, head of the government and other wellknown public figures such as the former king have decided not to offer Tika to the public during this Dashain. It has been a long tradition for the state officials in the highest gov Read More...
KATHMANDU, OCTOBER 18 The Ministry of Women, Children and Senior Citizens has developed ‘Procedure for Data Collection and Updating of Women, Children and Differently-abled Persons-2020’ for the purpose of incorporating them in reports, which the Government of Nepal is obliged to submit to in Read More...
KATHMANDU, OCTOBER 18 The Central Investigation Bureau of Nepal Police has apprehended two persons, who were accused of murdering one of their fellow workers, 11 years after they allegedly committed the crime. The murder suspects have been identified as Bhimsen Ghaga Magar, 51, and Ram Krishna Read More...