Bullish trend continues at Nepse

Himalayan News Service

Kathmandu, February 19:

A robust performance by commercial bank group along with the other group has helped stock market continue its bullish trend for yet another week.

As a result, Nepal Stock Exchange (Nepse) index gained 6.69 points this week. The index opened at 259.05 points on Monday and closed up at 265.74 points on the closing day. The index had gained 6.27 points last week. The weekly share trading analysis reveals that the other group joined a march along with the commercial bank group after last week’s fall. The other group alone registered a growth of over 25 points during the week. However, insurance group lost this week.

The index of the commercial bank group, which is the largest scrip at the Nepse floor, started at 274.86 points on Monday and climbed to 282.60 points on the closing day.

The group had recorded 20.88 points growth last week.

Following last week’s fall, the other group has come back with a gain of 25.39 points. The group’s index went up to 354.67 points on the closing day from the opening 329.28 points on Monday. The group had lost last week.

The manufacturing group and the finance group also registered growth with a marginal increment in their index. The Nepse index of these groups closed up at 274.39 points and 207.53 points from 273.97 points and 207.19 points respectively. The manufacturing group remained constant, whereas the finance group has lost last week.

The development bank also recorded a healthy growth of 5.30 points. The group’s index started at 208.44 points on Monday and closed up at 213.74 points on Thursday. The group had gained over 5 points last week, too. However, the insurance group is a sole loser this week.

The group suffered a loss of 0.60 point, as its index dropped to 238.61 points from the opening 239.21 points. The group has registered a gain last week. The trading group and the hotel group, however, remained constant throughout the week at 98.87 points and 173.21 points respectively.

According to Nepal Stock Exchange Ltd, the total transaction value stood at Rs 74,048,487 during the week from 2,406 transactions of 275,002 share units throughout the week.

However, the last week’s total trading value was Rs 64,769,966 through 1,558 transactions and 248,726 shares. Out of the 54 total listed companies, only 42 companies saw their transaction this week.

The commercial bank group continued to dominate the floor as it captured the largest chunk of the total share trading. It captured 89.58 per cent of the total trading, followed by the finance group with 7.39 per cent. The other group was captured 2.08 per cent market share, whereas the development bank group cornered 0.47 per cent and the insurance group contributed 0.24 per cent, while the hotel group contributed 0.23 per cent share of the total trading.

Lumbini Bank Ltd topped the race as a single largest trader in terms of number of transaction with 980 transactions, while Laxmi Bank Ltd secured the first position for share units and monetary value. A total of 58,460 shares of the bank were traded at Rs 14,399,000.

The Nepse floor remained open for only four days this week, where the shares of Nabil Bank Ltd, Standard Chartered Bank Nepal, Himalayan Bank Ltd, Nepal SBI Bank, Nepal Bangladesh Bank, Everest Bank Ltd, Bank of Kathmandu, NIC Bank Ltd, Laxmi Bank Ltd, Machhapuchre Bank Ltd, Kumari Bank Ltd and Lumbini Bank Ltd were traded.