Commercial banks lead fall in bourse

Himalayan News Service

Kathmandu, June 11:

Following a brief recovery last week, share trading at Nepal Stock Exchange (Nepse) this week suffered a loss of 1.53 points. The Nepse index had registered a growth of 2.54 points last week, after continuous fall for five weeks. Weekly share trading at the country’s sole secondary market opened on Sunday with its index at 281.61 points and went down to close at 280.08 points on the closing day. Fall in commercial bank group along with development bank group led to an overall fall in Nepse index despite insurance, finance, hotel, manufacturing groups having posted growth in their respective indices. However, groups like trading and the other group remained constant. According to information released by Nepal Stock Exchange Ltd, the total weekly transaction value also decreased compared to the last week. This week’s total transaction value stood at Rs 43,400,387 from 2,011 transactions of 117,204 share units. However, the last week’s total trading value was Rs 134,687,776 through 1,911 transactions of 1,049,052 shares.

Of the listed 73 companies for share trading, 62 companies saw their transactions this week.

The insurance group, which has been registering a continuous growth for the last couple of weeks, posted a growth of 4.61 points. The Nepse index of the group that opened at 309.04 points on Sunday climbed up to close at 313.65 points on the closing day. Likewise, the manufacturing and hotel groups also registered growth in their respective indices. The Nepse indices of these groups closed at 276.34 points and 178.00 points from the opening 276.29 points and 177.05 points respectively. The hotel group had posted a growth last week, while the manufacturing group had remained constant. The finance group also continued its growth trend and posted a growth of a marginal 0.71 point. The index of the group opened at 229.80 points on Sunday and closed up at 230.51 points on the closing day. However, the commercial

bank group suffered a loss of 2.95 points, as its index closed at 295.41 points. Earlier, the group opened at 298.36 points on Sunday. The group had recorded a healthy growth last week.

The development bank group is also the loser and its Nepse index tumbled by 4.40 points. The group, which had also lost ground last week, opened at 244.71 points on Sunday and settled at 240.31 points on the closing day. The trading group and the other group, however, remained constant at 123.84 points and 335.63 points respectively. Both the group had remained constant last week, too. The commercial bank group this week retained its dominant position, as it captured the largest chunk of total share trading. The group cornered 82.18 per cent of the total share trading, followed by the insurance group at 8.27 per cent. The finance group was in the third position with 7.33 per cent, while the development bank group shared 1.02 per cent The manufacturing group contributed 0.88 per cent and the trading group cornered 0.18 per cent, while the hotel group had a share of a mere 0.14 per cent.

Prudential Insurance Company Ltd topped the race in terms of number of transactions with 868 transactions in total. But Laxmi Bank Ltd stood first in terms of monetary value and number of shares traded this week. A total of 21,670 shares of the bank were traded valued at Rs 6,498,890. The Nepse floor remained open for five working days under regular lot, where the shares of Nabil Bank Ltd, Nepal Investment Bank, Himalayan Bank Ltd, Nepal SBI Bank, Everest Bank Ltd, Bank of Kathmandu, NIC Bank Ltd, Machhapuchre Bank Ltd, Kumari Bank Ltd, Lumbini Bank Ltd, NCC Bank Ltd, Life Insurance Company, Nepal Merchant Banking and Finance, Credit Development Bank and Nepal Sri Lanka Merchant Bank, were traded.