Nepal | September 29, 2020

Nepse index snaps two weeks of losing streak

Himalayan News Service
Share Now:

Kathmandu, February 4

The domestic market saw some massive swings in the week of January 29 to February 2, with the Nepal Stock Exchange (Nepse) index recording a week-on-week gain of 7.31 points or 0.53 per cent.

While the market remained closed on Sunday as the country observed Martyrs’ Day, the benchmark index opened at 1,375.14 points on Monday and plunged by 65.44 points by the time of closing. Stockbrokers attributed the selling pressure to the credit crunch in the market. The local bourse, however, added 16.9 points on Tuesday and surged by 63.23 points on Wednesday to more than recover the loss of the first day. The investors’ optimism on Wednesday was accredited to a possible way out to the credit crunch, as bankers held discussions with various stakeholders on the issue that day. On Thursday, nevertheless, Nepse index shed 7.38 points on profit-booking to close at 1,382.45 points for the week.

In total, 5.95 million shares of 156 companies worth Rs 2.21 billion were traded through 20,660 transactions during the week. The traded amount was 0.64 per cent lower than the preceding week when 19,360 transactions of 6.67 million shares of 155 firms that amounted to Rs 2.23 billion had been undertaken. It has to be noted, though, that the country’s only secondary market had remained open for normal five trading days in the past week against only four in the review period due to a public holiday.

The sensitive index, the marker for the performance of class ‘A’ stocks, edged up by 1.87 points or 0.63 per cent to 300.35 points. Likewise, the float index that measures the performance of shares actually traded also inched up by 0.73 point or 0.72 per cent to 102.46 points.

Whereas trading remained steady at 206.16 points, banking, development banks and manufacturing recorded some gains. The remaining subgroups wound up clocking losses during the review period.

Banking, the share market heavyweight, advanced by 24.69 points or 1.89 per cent to 1,333.23 points. Share value to commercial banks like Standard Chartered surged by 3.46 per cent to Rs 2,090 and of Nepal Investment rose by 3.47 per cent to Rs 685 and Everest went up by 1.32 per cent to Rs 1,763.

Development banks rose by 11.85 points or 0.82 per cent to 1,450.41 points on the back of Chhimek up 1.96 per cent to Rs 990 and stock price of Sana Kisan increasing by 2.63 per cent to Rs 975.

Adding to the previous week’s surge of 3.31 per cent, manufacturing subgroup inched up by 16.33 points or 0.76 per cent to 2,161.86 points. Even as Himalayan Distillery lost 2.36 per cent to close at Rs 620, the sub-index was buoyed due to Unilever Nepal advancing by 1.22 per cent to Rs 29,000.

At the other end of the spectrum, insurance subgroup continued its free fall with a dive of 225.24 points or 3.58 per cent to rest at 6,058.55 points. Stockholders of Nepal Life saw the value of their shares plunge by five per cent to Rs 2,375 and those of Life Insurance Co Nepal witnessed the share price close at Rs 2,287, down 1.8 per cent.

Finance dropped by 16.79 points or 2.56 per cent to 638.43 points, weighed down by Citizen Investment Trust witnessing a steep drop of 4.79 per cent to end at Rs 3,280.

The three remaining subgroups managed to limit their losses below one per cent — others was down 6.08 points or 0.86 per cent to 697.59 points, hotels dipped by 6.97 points or 0.39 per cent to 1,768.35 points and hydropower shed 3.02 points or 0.19 per cent to 1,617.9 points.

Meanwhile, Siddhartha Bank topped the chart in terms of weekly turnover with Rs 145.59 million, followed by Nepal Telecom with Rs 103.02 million, Nepal Life Insurance Co with Rs 102.30 million, Prabhu Bank with Rs 99.49 million and Sanima Bank with Rs 83.40 million.

NMB Sulav Investment Fund – I was forerunner in terms of trading volume with 831,000 of its scrips changing hands. Pertaining to number of transactions, Prabhu Bank retained its top position with 1,314 transactions.


Odd lot transaction

KATHMANDU: In a bid to further facilitate investors, Nepal Stock Exchange (Nepse) is allowing transactions of odd lot (less than 10 shares) during normal trading hours from Sunday. As per Nepse, a system has been put in place
so that the odd lot transactions neither affect the indices nor the market price. Until now, except for All or Non (AoN), all transactions carried out during normal trading hours — that is, from Sunday through Thursday between 11:00am and 3:00pm — were of broad lot (trading of minimum of 10 units of shares or in multiples of 10). Due to this, there was a problem of orders that were not divisible by 10 being cancelled.


A version of this article appears in print on February 05, 2017 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Nepal COVID-19 Update: 1351 new cases, 742 recoveries, four fatalities recorded on Monday

KATHMANDU: Nepal’s Health Ministry, in its regular press briefing, shared the latest updates on coronavirus contagion from across the country, and government’s response to the health crisis. READ ALSO: Kathmandu Valley records 817 infections on Monday As of today, 998,407 tests throug Read More...

K-pop’s BLACKPINK drop teaser for title track ‘Lovesick Girls’ from debut album

KATHMANDU: K-pop’s most popular girl band BLACKPINK on September 28 announced Lovesick Girls, the title track of their debut full-length LP The Album. According to The Korea Times, the group's label YG Entertainment dropped a teaser poster on social media, announcing the title track, Lovesi Read More...

President issues three ordinances

KATHMANDU: President Bidya Devi Bhandari has issued three ordinances, including one related to prevention and control of acid and other harmful chemicals. The President issued these ordinances in accordance with Article 114 (1) of the Constitution of Nepal and on the recommendation of the Council Read More...

Nepal, Oman to sign labour agreement soon

KATHMANDU: Nepal's Ambassador to Oman, Sharmila Parajuli Dhakal paid a courtesy call on Labour Minister of Oman Dr Mahad bin Saeed bin Ali Baouin at latter’s office. Ambassador Dhakal congratulated Dr Mahad for his appointment to the post of Labour Minister of Oman. On the occasion, both o Read More...

Global K-pop sensation BTS to drop new album ‘BE’ on November 20

KATHMANDU: K-pop supergroup BTS have announced their new album titled BE, which they will be releasing on November 20. The group’s label Big Hit Entertainment took to the group's online fan community BTS Weverse on September 28 to make the announcement, reports The Korea Herald. Without el Read More...

Armenia and Azerbaijan step up fighting in fiercest clashes since 1990s

Each side says the other firing heavy artillery Worries resurface about South Caucasus stability Azerbaijan says six of its civilians killed Nagorno-Karabakh said 15 more of its soldiers killed YEREVAN/BAKU: Fighting between Armenia and Azerbaijan escalated sharply on Monday in a Read More...

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...