Nepse index rides commercial banks’ progress

Himalayan News Service

Kathmandu, April 24:

With a healthy performance recorded by the commercial bank group, share trading at the country’s sole secondary market, the Nepal Stock Exchange (Nepse) registered a growth this week as well. As a result, Nepse index rose by 1.34 points. According to information provided by the Nepal Stock Exchange Ltd, the index of the stock market went up to 204.06 points on Friday, from the opening of 202.72 points on Monday. The market had gained by 1.20 points last week and 3.31 points a week before that. The group-wise analysis reveals that the commercial bank group, which registered a remarkable growth in terms of market capitalisation, helped push up the overall Nepse index. The insurance, the development bank and the other groups, too, registered growth in their respective indices. But, the finance group and the hotel segment lost this week.

The largest scrip in the secondary market— the commercial bank group, gained with an impressive growth of 8.90 points, against last week’s growth of 1.87 points. The Nepse index of the group went up to 201.80 points from the opening 191.90 points on Monday. The insurance group managed a growth of a marginal 0.47 point during the week. The group, which had gained last week, too, opened at 243.04 points on Monday and closed at 243.51 points on Friday.

Though the other group makes a rather small contribution to the share market, the group gained in its index by 1.03 points. The group opened with 141.87 points on Monday and rose to 142.90 points on the closing day. The development bank group’s index went up by 0.31 point, while its index climbed up to 190.56 points from the opening of 190.25 points on Monday. However, the finance group suffered a loss of 2.69 points, as its index went down to 194.34 points on Friday from the opening 197.03 points. Similarly, the hotel group’s index went down to 181.01 points from the opening 181.43 points on Monday. The trading group and the manufacturing group, however, remained constant throughout the week at 94.29 points and 265.92 points respectively. Both the group had remained constant last week, too.

A total of 79,049 share units valued at Rs 23,460,698 were traded through 1,789 ransactions, against last week’s trading of 80, 676 share units through 1,395 transactions at Rs 4,700,956.

Out of the listed 58 companies for five-day trading, 46 companies saw transaction during the week.

Like the previous weeks, the commercial bank group dominated the Nepse floor, as it captured the largest chunk of the total share trading. It captured 74 per cent of the total trading followed by the finance group with 14.27 per cent. The insurance group was in the third position with 6.28 per cent market share, whereas the development bank group cornered 1.24 per cent. The hotel group contributed 0.03 per cent and the other group, too, had a share of 0.01 per cent.

International Leasing and Finance Company topped the weekly trading race in terms of number of share transaction with 290 transactions. While, Bank of Kathmandu led for number of share units traded during the week, as bank’s 18,193 shares were traded. Nabil Bank Ltd secured the first position in terms of monetary value of Rs 4,583,538. Shares of Nabil Bank Ltd, Nepal Investment Bank, Himalayan Bank Ltd, Everest Bank Ltd, Bank of Kathmandu, NIC Bank Ltd, Nepal Life Insurance Company and Development Credit Bank were traded throughout the week.