Nepal | September 28, 2020

Nepse hits all-time high of 1,212 points as weeks-long bull-run continues

Share Now:

Kathmandu, January 17

The Nepal Stock Exchange index hit a record high today on the first day of the implementation of the much-awaited dematerialised form of share-trading.

The benchmark index surged by 21.84 points to 1,212 points today. Earlier, the local bourse had dipped after recording 1205.84 points on September 15.

The continued bull run was witnessed in the market in the last few weeks due to flush liquidity in the market, according to Rabindra Bhattarai, stock market analyst.

“Simplification of share transaction after full-fledged implementation of dematerialised system in the secondary market, and encouraging political cues played a crucial role in the continuous bull run in the stock market.”

Investors were also lured to the stock market as Nepal Rastra Bank recently extended the default period for the repayment of loans and interests that matured in the second quarter of this fiscal till the third quarter April 12.

The bull run in the stock market was led by the insurance sector. The insurance sub-index increased by 127.98 points or 2.38 per cent to 5,503.72 points.

In terms of total turnover, the banking sector topped all the subgroups with total traded amount of Rs 306.57 million.

The volume of shares of the banking sector traded at the stock market has been increasing due to NRB’s instruction to commercial banks to raise paid-up capital from the current Rs 2 billion to Rs 8 billion.

All the sub-indices, except hydropower, witnessed gains today. Sub-indices of development banks, finance, hotels and others surged by 1.57 per cent, 0.21 per cent, 0.92 per cent and 1.49 per cent to 1,158.13 points, 586.86 points, 1,742.74 points and 798.88 points, respectively.

However, the hydropower subgroup was in the red today, as it dipped by 0.13 per cent to 2,161.54 points.

In total, 825,954 shares of 89 firms worth Rs 548.12 million were traded through 2,569 transactions today. The sensitive index, which gauges the performance of class ‘A’ stocks, rose 1.77 per cent to 260.36 points.

Likewise, the float index that measures the performance of shares actually traded also went up 1.96 per cent to 86.71 points.

Altogether, 172 companies out of the 232 listed companies have acquired membership of the Central Depository System and Clearing Ltd.

A further 60 firms are yet to become members of CDS and Clearing Ltd for the admission of their securities for dematerialisation.

Companies that have not taken membership of CDS and Clearing Ltd were suspended from trading today.

Forty of the 60 companies are in the process of merger and acquisition, which is why they have not taken the membership to dematerialise their securities.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Students demand justice for Bajhang rape victim in Kathmandu

KATHMANDU, SEPTEMBER 26 Students take to the streets on Saturday demanding justice for a 12-year-old girl whose dead body was found in a temple in Bajhang district on Thursday night. The minor was raped before being killed by the culprit/s. As per local police, investigation into the case in unde Read More...

United earn dramatic win at Brighton with late Fernandes penalty

BRIGHTON: Manchester United beat Brighton & Hove Albion 3-2 away in the Premier League on Saturday after an incredible finale in which Bruno Fernandes struck the winning goal from the penalty spot in the 100th minute of the game. Fernandes's winner, which came after referee Chris Ka Read More...

Chelsea recover from three goals down to draw at West Brom

Chelsea striker Tammy Abraham struck a 93rd-minute equaliser as they battled back from three goals down to draw 3-3 at West Bromwich Albion in their Premier League clash on Saturday. An error by Marcos Alonso led to Callum Robinson opening the scoring for West Brom in the fourth minute and t Read More...

A team of women of Police march past in a programme organised to mark the Constitution day at Nepal Army pavilion in Tundikhel, Kathmandu, on Wednesday, September 19, 2018. Photo: Skanda Gautam/THT

Province 2 threatens to knock Supreme Court door

KATHMANDU, SEPTEMBER 26 Months after the two bills related to adjustment of Nepal Police and Provincial Police were authenticated, provincial governments have not been able to take control of police. As a result, Province 2 government has sent an angry letter to the federal home ministry asking i Read More...

Local levels to resume schools from today in Siraha district

SIRAHA, SEPTEMBER 26 Community schools in Laxmipur Patari Rural Municipality and Mirchaiya Municipality of Siraha, that have remained closed for the past six months are likely to open from tomorrow. Education sections of both the local bodies, by issuing separate notices, decided to open s Read More...

Three persons including campus chief absconding

DHULIKHEL, SEPTEMBER 26 Three persons, including campus chief, have been absconding ever since police issued an arrest warrant against them in Kavre’s Banepa. A fraud charge was filed against three people including Kavre Multiple Campus Chief KJ Baidar in Kavre’s Banepa Municipality, with Read More...

Traffic police expedite monitoring of public vehicles

KATHMANDU, SEPTEMBER 26 Traffic police have expedited inspection and monitoring of public vehicles in Kathmandu valley to ensure that they follow health guidelines and other requirements specified by the government to prevent and control COVID-19. Senior Superintendent of Police Bhim Prasad Dh Read More...

Food, medicines provided to returnees from India

DHANGADI, SEPTEMBER 26 Dhangadi sub-metropolis has been providing free food and health facilities for Nepalis returning from India at border entry point, in Dhangadi. Deputy Mayor Sushila Mishra Bhatta of the sub-metropolis said food and water were being offered to the returnees ever since the Read More...