Giving continuity to the five-week buoyancy, the country’s sole secondary market surged by 4.85 per cent or 59.81 points in the trading week between April 21 and 25.
While the share market becomes bullish around this time of the year, investors also pointed at the upbeat earnings data of commercial and development banks for the optimism in Nepal Stock Exchange (Nepse).
“Since the banking sector has a majority stake in our share market, the benchmark index tends to move in tandem with the change in the banking subgroup,” explained Radha Pokharel, chairperson of Nepal Pujibazar Laganikarta Sangh.
“Moreover, banks are easily providing loans to investors these days, which can be witnessed in the surge in daily transactions.”
Due to these factors, sensitive index also went up by 5.30 per cent or 14.10 points to 279.67 points and float index also gained 4.89 per cent or 4.45 points to 95.44 points.
In the review period, the weekly turnover soared by a whopping 91.05 per cent as compared to the previous week to reach Rs five billion.
In the previous week, the market had witnessed turnover of Rs 2.62 billion. Likewise, the daily average turnover stood at Rs one billion — an increment of 52.84 per cent against Rs 665.05 million in the previous week.
The secondary market had opened at 1,232.26 points on Sunday and soared by 31.93 points by the end of the trading day. Though the benchmark index dropped by 7.25 points the next day, it more than recovered the loss over the next three trading days.
On Tuesday, Nepse index rose by 3.21 points, jumped 19.14 points on Wednesday and added 12.83 points on Thursday to close the week at 1,292.12 points.
In the review week, only hydropower and trading subgroups landed in the red zone. The hydropower sub-index went down by 0.22 per cent or 2.55 points to close the week at 1,130.18 points, while the trading subgroup dipped by 0.03 per cent or 0.08 point to close the week at 244.81 points.
Banking led the pack of gainers by surging 6.78 per cent or 76 points to 1,197.69 points. This was due to the share price of commercial banks like Nabil rising by Rs 70 to Rs 880 and Nepal Investment advancing by Rs 23 to Rs 577.
The development bank subgroup gained 5.06 per cent or 76.31 points to land at 1,584.97 points. Jyoti Bikas Bank’s share value went up by eight rupees to Rs 147, among others.
Moreover, life insurance sub-index increased by 4.21 per cent or 255.69 points to land at 6,329.34. Share price of Nepal Life rose by Rs 35 to Rs 1,145.
The hotels subgroup ascended by 4.15 per cent or 74.07 points to 1,858.07 points. Soaltee’s share price closed at Rs 222, up nine rupees, while that of Oriental landed at Rs 487, up Rs 27.
Similarly, the manufacturing sub-index jumped by 3.92 per cent or 78.34 points to 2,075.04 points, mainly on the back of Unilever Nepal’s share price up Rs 1,321 to Rs 20,298.
Non-life insurance sub-index went up by 2.97 per cent or 162.58 points to land at 5,631.47 points.
Share price of Rastriya Beema Company increased by Rs 100 to Rs 9,200, among others.
The others subgroup ascended by 1.81 per cent or 12.77 points to 717.03 points. Likewise, microfinance sub-index went up by 1.18 per cent or 17.37 points to 1,488.75 points and finance subgroup inched up by 1.1 per cent or 6.89 points to 631.46 points.
In the review week, Nepal Bank was the leader in terms of weekly turnover, trading volume and number of transactions with 1.79 million of its shares worth Rs 560.8 million changing hands through 2,497 transactions.
In terms of weekly turnover, it was followed by Prabhu Bank with Rs 228.84 million, NIC Asia Bank with Rs 222.81 million, NMB Bank with Rs 194.48 million and NCC Bank with Rs 186.18 million.
In terms of weekly trading volume, Janata Bank with 849,000 shares, Prabhu Bank with 802,000 shares, NCC Bank with 782,000 shares and Civil Bank with 714,000 shares were the other top firms.
Meanwhile, in terms of number of transactions, Prabhu Bank with 1,785, NMB Bank with 1,706, NIC Asia Bank with 1,532 and Janata Bank Nepal with 1,485 transactions wrapped up the top five in this category.
A version of this article appears in print on April 28, 2019 of The Himalayan Times.
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