Nepse index scales historic high
Kathmandu, June 30:
Nepali shares witnessed bullish trading during the week as the Nepal Stock Exchange (Nepse) index posted a historic record 591.65 points on Wednesday with key indices rallying strong.
The index posted a healthy growth of 7.64 points this week with the rush of gullible investors at the country’s sole secondary market continued yet another week.
The commercial banks and others groups had high times as the stock trading closed at a new high of 591.65 points. The trading at Nepse floor has opened at 581.01 points on Sunday.
Propelled by the rising confidence of investors, the share market is on bullish mood for the last one month. The analysts say that the market has been heated in a speculation that the financial institutions would take initiatives to raise the capital in order to meet their requirement of capital adequacy.
Although the floor opened for five days, the trading took place only four days under a regular lot this week. The trading on Thursday was halted due to confusion over the implementation of Securities Transaction (Traders) Regulation, in which the brokers raised concern over their fee and tax (TDS).
The stock trading registered a continuous growth over the week with its index climbing to 588.21 points on the second day and 590.29 points on the third day before closing at 591.65 points on the fourth day.
The weekly turnover, however, decreased this week to Rs 257 million with 624,893 unit shares having been traded through 1,796 transactions, against last week’s figure of Rs 270.2 million thro-ugh the trading of 690,834 shares. Out of the total 77 listed companies, 68 companies saw their transactions this week. The group wise share trading analysis shows that all major groups including commercial banks, the other and insurance groups each posted an impressive growth.
The commercial banks group, which is the largest scrip by volume, continued to register an impressive growth of 8.31 points. The group closed at 653.41 points from opening 645.10 points.
Likewise, the others group also posted a sound double-digit growth of 17.54 points, as its trading closed at 807.52 points from the opening 789.98 points. The group had an impressive growth last week, too.
Among the gainers, the insurance group, too, managed to post a growth of 8.76 points. The group’s trading that opened at 564.79 points on Sunday went up to 573.55 points. The development banks group registered 9.68 points growth and closed at 511.42 points, while the manufacturing group gained 2.59 points and closed at 342.29 points.
The finance and hotel groups rose to 464.05 points and 242.55 points from the opening 461.97 points and 242.17 points respectively.
The trading group, meanwhile, remained constant at 155.21 points, as this group didn’t have a single transaction throughout the week.
National Hydropower Co Ltd topped all other companies in terms of the largest share trading for the week. Its 314,040 unit shares exchan-ged hands for Rs 57,368,420 through 229 transactions.
The shares of Nabil Bank, Nepal Investment Bank, Standard Chartered Bank, Nepal SBI Bank, Nepal Bangladesh Bank, Bank of Kathmandu, NIC Bank, Machhapuchhre Bank, Laxmi Bank, Kumari Bank, Siddhartha Bank, Lumbini Bank and NCC Bank were traded throughout the week.