Kathmandu, December 28
As banks and financial institutions (BFIs) have started providing sufficient amount of loans to share investors, secondary market has started to turn bullish.
Moreover, investors have said that the government has gradually started addressing the concerns that were mentioned in the 58-point secondary market reform agenda submitted by investors to the authorities.
Radha Pokharel, chairperson of Nepal Pujibazar Laganikarta Sangh, said investors are now hopeful that the government will take some corrective measured to help the market. “We are optimistic now that the government will fulfil our demands and the market will go through a positive trend.”
According to her, the Finance Committee of the Federal Parliament and the finance minister himself are at the present showing an interest to address the issues plaguing the share market. “We hope they will fully address our concerns.”
Meanwhile, there are some investors who have been saying that they are worried about securing their investment in the secondary market.
Against this backdrop, the Nepal Stock Exchange (Nepse) index increased in the review week between December 22 and 26. It went up by 1.54 per cent or 17.11 points. Likewise, sensitive index also rose by 0.99 per cent or 5.52 points to 254.36 points and float index edged up by 1.05 per cent or 0.90 point to 86.54 points.
Likewise, the weekly turnover jumped up by 35.07 per cent as compared to the previous week to Rs 2.82 billion. In the previous week, the market had witnessed transactions that totalled Rs 2.08 billion. Trading volume also ascended to 8.95 million stocks changing hands this week from 6.52 million in the previous week.
The secondary market had opened on Sunday at 1,149.65 points and had risen by 1.17 points by the end of the trading day. On Monday, it went up by 17.77 points. However, the index dropped by 2.37 points on Tuesday. The next day it reversed course increasing by 1.82 points. But on Thursday, the index fell by 0.62 point to close the week at 1,167.42 points.
In the review week, mutual funds and hydropower were the only sub-indices in the red zone. Mutual funds subgroup inched down by 0.53 per cent or 0.05 point to 9.26 points and hydropower fell by 0.36 per cent or 3.41 points to 936.71 points.
Meanwhile, manufacturing was biggest gainer of the week, soaring by 7.86 per cent or 169.67 points to 2,328.33 points due to share price of Unilever Nepal rising by Rs 370 to Rs 18,941 and Bottlers Nepal (Tarai)’s up by Rs 89 to Rs 6,100.
Similarly, trading sub-index ascended by 7.09 per cent or 40.16 points to 606.05 points due to the share price of Salt Trading Corporation soaring by Rs 132 to Rs 1,754.
The others subgroup also increased by 6.14 per cent or 39.68 points to 685.63 points as share price of Nepal Telecom went up by Rs 21 to Rs 657. Likewise, life insurance also rose by 3.15 per cent or 173.03 points to 5,661.34 points due to share price of Nepal Life Insurance Co going up by Rs 41 to Rs 918.
The hotels subgroup, meanwhile, rose by 3.02 per cent or 52.83 points to 1,802.19 points.
It was due to the share price of Soaltee Hotel going up by two rupees to Rs 182.
The non-life insurance subgroup advanced by 1.49 per cent or 66.60 points to 4,530.55 points and finance subgroup edged up by 1.09 per cent or 6.25 points to 576.09 points.
Similarly, development banks went up by 0.91 per cent or 14.30 points to 1,588.24 points.
Moreover, microfinance sub-index also expanded by 0.90 per cent or 14.57 points to 1,624.33 points and banking increased by 0.41 per cent or 4.36 points to 1,043.66 points.
In the review week, Nepal Bank was the leader in terms of weekly turnover with Rs 329.96 million. It was followed by Shivam Cements with Rs 259.21 million, Citizen Investment Trust with Rs 147.91 million, Nabil Bank with Rs 109.04 million and NMB Bank with Rs 107.11 million.
In terms of weekly trading volume too Nepal Bank was the forerunner with 1,044,000 of its shares changing hands. It was followed by Shivam Cements with 580,000 shares, NCC Bank with 358,000 shares, NMB Bank with 328,000 shares and Deva Bikas Bank with 266,000 shares.
Meanwhile, Shivam Cements topped in terms of number of transactions with 3,069 transactions. It was followed by Nepal Bank with 1,259, NMB Bank with 1,215, Citizen Investment Trust with 1,093 and Nepal Life Insurance Co with 1,027 transactions.
A version of this article appears in print on December 29, 2019 of The Himalayan Times.
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