Kathmandu, February 1
Owing to the increasing buying pressure, the country’s sole secondary market surged by 2.15 per cent or 27.91 points in the trading week between January 26 and 30.
Prakash Rajhaure, a share market analyst, said the recent positive political cues have boosted investor sentiment.
“Moreover, Nepal Stock Exchange (Nepse) has completed its bearish cycle and entered markup phase already, so the market movement will be northbound despite some technical obstacles,” he added.
Against this backdrop, banks and financial institutions have started facing problems in matching supply of margin loans as per demand.
This was evident in the drop of weekly turnover by 23.45 per cent as compared to the previous week to Rs 6.54 billion. In the previous week, the market had witnessed transactions worth Rs 8.54 billion. The trading volume also dropped to 16.29 million stocks changing hands in the review week from 25.10 million in the preceding week.
The benchmark index had opened on Sunday at 1,297.48 points and had dropped by 20.79 points by end of the first trading day.
However, it more than recouped the loss the very next day by jumping 23.95 points and added another 5.52 points on Tuesday. While Nepse index dipped by 0.27 point on Wednesday, it rebounded strongly by 19.51 points on Thursday to close the week at 1,325.39 points.
In the review week, microfinance, non-life insurance, life insurance, hotels, development banks, banking and others sub-indices recorded gains.
Microfinance sub-index was the biggest gainer of the week, soaring by 9.51 per cent or 191.74 points to 2,207.57 points due to the share price of Chhimek Laghubitta Bikas Bank surging by Rs 103 to Rs 985.
The non-life insurance sub-index advanced by 8.48 per cent or 461.18 points to 5,901.45 points as Everest Insurance Co rose by Rs 72 to Rs 418 and Himalayan General Insurance by Rs 63 to Rs 418.
Similarly, life insurance subgroup ascended by 4.77 per cent or 344.08 points to 7,558.53 points. The share value of Nepal Life Insurance Co increased by Rs 33 to Rs 1,133, among others. Hotels sub-index went up by 2.21 per cent or 44.34 points to 2,042.32 points, mainly on Soaltee’s share price going up by five rupees to Rs 207.
Moreover, development banks subgroup ascended by 1.93 per cent or 33.81 points to 1,781.47 points.
The banking sub-index added 0.77 per cent or 8.73 points to 1,148.92 points and others subgroup inched up by 0.36 per cent or 2.40 points to 674.47 points.
Meanwhile, manufacturing fell by 0.6 per cent or 14.79 points to 2,466.16 points. The trading sub-index dipped by 0.59 per cent or 4.70 points to 786.54 points and hydropower subgroup shed 0.51 per cent or 5.12 points to 1,001.23 points.
Moreover, finance slipped by 0.46 per cent or 3.09 points to 662.08 points and mutual funds subgroup dropped by 0.39 per cent or 0.04 points to 10.16 points.
In the review week, Nepal Life Insurance Co was the leader in terms of weekly turnover with Rs 334.29 million. It was followed by Global IME Bank with Rs 294.29 million, Surya Life Insurance with Rs 216.82 million, Prime Life Insurance with Rs 179.65 million and Gurans Life Insurance with Rs 176.76 million.
Meanwhile, Global IME Bank was the forerunner in two categories — trading volume and number of transactions — with 1.012 million of its shares changing hands through 3,354 transactions.
Prabhu Bank with 690,000 shares, Nepal Bank with 529,000 shares, Surya Life Insurance with 493,000 shares and Grameen Bikas Laghubitta Bittiya Sanstha with 359,000 shares rounded up the top-five companies in terms of number of shares traded.
The listed companies to witness record transactions for the week were Surya Life Insurance with 2,166, Nepal Life Insurance Co with 2,149, Nadep Laghubitta Bittiya Sanstha with 1,770 and Grameen Bikas Laghubitta Bittiya Sanstha with 1,652 transactions.
|10.25% Sunrise Bank Debenture 2083||IPO||3,000,000|
A version of this article appears in print on February 02, 2020 of The Himalayan Times.
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