Nepse advances 0.64pc over the week

Kathmandu, March 19


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 Despite the advice given by analysts and the market regulator to investors to adopt caution, buying pressure in the country’s only secondary market persisted. Hence, the Nepal Stock Exchange (Nepse) index advanced by 8.5 points or 0.64 per cent over five trading days of the week — March 13 to 17.

The benchmark index, which had opened at a previous high of 1,318.03 points had inched up 0.85 point to close at a fresh peak of 1,318.88 points by day’s closing. On Monday, Nepse dropped by 6.68 points on profit-booking. However, the local bourse edged up by 6.65 points on Tuesday and added 2.92 points on Wednesday before surging 10.76 points to an all-time high of 1,326.53 points on Thursday.

Altogether, 6.71 million shares of 145 companies that amounted to Rs 4.02 billion were traded through 18,407 transactions during the review period. The traded amount was a whopping 130.58 per cent higher than previous week when 7,669 transactions of 2.94 million scrips of 134 firms worth Rs 1.74 billion had been undertaken. It has to be noted, though, that the market was open for trading for only two days in previous week due to public holidays.

The sensitive index, which gauges the performance of class ‘A’ stocks, inched up 0.57 per cent to 285.23 points. Similarly, the float index that measures the performance of shares actually traded also nudged up 0.46 per cent to 95.48 points.

Among the subgroups, manufacturing and trading held steady at 1,998.78 points and 201.38 points, respectively. Except for development banks and hotels, all the subgroups landed in the green zone.

Similar to the previous week, the market rally of the week was on the back of insurance subgroup, which surged by 4.38 per cent to 6,151.51 points. Share value of Nepal Life Insurance advanced by Rs 340 to Rs 3,500 and that of Life Insurance Co Nepal by Rs 79 to Rs 3,600, among others.

The remaining gainers, however, managed to post only muted rise. Finance was up 0.78 per cent to 675.08 points, hydropower was up 0.69 per cent to 2,314.83 points, banking was up 0.45 per cent to 1,195.23 points and others inched up 0.28 per cent to 824.72 points.

Conversely, development banks — after recording impressive gains in the past several weeks — plunged by 2.01 per cent to 1,357.24 points. Nagbeli slumped by Rs 124 to Rs 3,341, Swabalamban dropped by Rs 83 to Rs 2,315 and Chimmek by Rs 69 to Rs 1,880.

Hotels too landed in the red this time around, dipping by 0.85 per cent to 1,753.43 points. Soaltee lost two rupees to Rs 328, Oriental was down Rs 10 to Rs 440 and Taragaon dropped four rupees to Rs 223.

Premier Insurance topped the chart in terms of turnover with Rs 225.04 million, followed by National Hydropower with Rs 217.42 million, Nepal Bank with Rs 202.46 million, Prudential Insurance with Rs 146.35 million and Agricultural Development Bank with Rs 142.97 million.

Meanwhile, National Hydropower Co took the lead in terms of number of shares traded with 1.16 million of its scrips changing hands. Recording 1,281 transactions to its name, Api Hydropower was the forerunner in this category.