KATHMANDU, MAY 20
The Nepal Stock Exchange (Nepse) index rose by 38.73 points or 2.11 per cent in the trading week between May 14 and 18.
The sensitive index, which measures performance of class 'A' stocks, increased 1.44 per cent to 358.18 points in the review period. Meanwhile, the float index that gauges performances of shares actually traded added 2.15 per cent or 2.76 points to settle at 131.41 in the review week.
Altogether 14.19 million shares were traded during the review week through 119,989 transactions that amounted to over Rs 4.59 billion. The weekly turnover rose by over 36 per cent compared to the previous week when 11.71 million shares had changed hands through 101,719 transactions that totalled Rs 3.37 billion. The average daily turnover in the past week was over Rs 675 million and it increased to Rs 919.61 million this week.
The benchmark index had opened at 1,838.59 points on Sunday and it fell by 16.95 points by the time of closing to 1,821.64 points. The market lost 3.33 points on Monday to close at 1,818.31 points before recovering by 3.31 points on Tuesday.
On Wednesday, the benchmark index jumped 23.39 points to 1,845.01 points before advancing by 32.31 points to close at 1,877.32 points for the trading week.
Share investors had met with Prime Minister Pushpa Kamal Dahal at the latter's office to discuss the share market and its potential as a driving force for economic growth and prosperity.
The stakeholders had also submitted a six-point memorandum to PM Dahal to further enhance the share market by addressing the existing liquidity situation, accelerating the distribution process of licence to new stock brokers, setting up a new stock exchange market and a commodity exchange market, withdrawal of cap of Rs 120 million on loans for shares, reducing the risk weighted average to 100 per cent, and maintaining interest rates to single digit.
On the occasion, PM Dahal had committed to improving the share market leaving share investors optimistic about better days ahead.
Apart from others, all the subgroups landed in the green this week. Others sub-index shed 0.32 per cent to 1,343.18 points.
Investment led gainers, advancing by 4.43 per cent to 64.62 points, followed by microfinance, up 3.88 per cent to 3,361.11 points. Hotels and tourism jumped 3.70 per cent to 3,557.92 points; non-life insurance rose by 3.67 per cent to 8,762.90 points; trading added 3.66 per cent to 2,086.21 points; finance went up by 3.58 per cent to 1,585.86 points; development banks by 3.40 per cent to 3,507.18 points; hydropower by 3.23 per cent to 2,363.52 points; life insurance by 2.74 per cent to 9,491.37 points; manufacturing and processing by 0.88 per cent to 4,434.89 points; banking by 0.68 per cent to 1,222.39 per cent; and mutual funds by 0.59 per cent to 13.62 points.
A version of this article appears in the print on May 21, 2023, of The Himalayan Times.
