Nepse index up 8.93 points

Kathmandu, May 5

The country’s sole secondary market saw limited gain in the trading week between April 29 and May 3, inching up by 8.93 points or 0.65 per cent.

Stating that the market movement seems relatively stable, with the number of experienced investors on the rise, one stock broker said the benchmark index is unlikely to witness any massive volatility in the coming weeks.

Nepse index had opened at 1,357.22 points on Sunday and dropped by 8.21 points to close at 1,349.01 points by the end of the day. The market remained closed on Monday for Buddha Jayanti and on Tuesday for May Day.

The local bourse reversed course thereafter, rising by 11.37 points on Wednesday to land at 1,360.38 points and adding another 5.77 points on Thursday to settle at 1,366.15 points for the week.

Similarly, sensitive index rose by 1.23 points or 0.42 per cent to rest at 288.29 points. The float index too inched up by 0.59 point or 0.60 per cent to rest at 98.66 points.

Among the subgroups, banking, manufacturing, and finance landed in red zone. All remaining seven subgroups recorded gains in the range of 0.37 per cent to 3.46 per cent.

In the review week, the manufacturing subgroup dropped by 1.33 points or 0.05 per cent to rest at 2,314.69 points. Likewise, banking subgroup shed 5.60 points or 0.47 per cent to rest at 1,171.31 points and finance sub-index dipped by 4.85 points or 0.72 per cent to land at 668.63 points.

Meanwhile, microfinance subgroup led the pack of gainers. It went up by 58.84 points or 3.46 per cent to end the week at 1,757.65 points. Likewise, insurance sub-index also rose by 185.04 points or 2.67 per cent to 7,098.53 points.

Similarly, the hydropower sub-index increased by 42.70 points or 2.57 per cent to settle at 1,704.17 points and hotels subgroup also jumped by 49.96 points or 2.52 per cent to close at 2,028.24 points. The development bank subgroup advanced by 15.92 points or one per cent to 1,594.56 points and others sub-index saw an increment of 4.42 points or 0.58 per cent to rest at 758.80 points.

Similarly, the trading sub-index also edged up by 0.76 point or 0.37 per cent to end the week at 203.45 points.

Altogether, 3.24 million shares of 176 firms worth Rs 1.57 billion were traded through 18,483 transactions in the week. The traded amount was 66.63 per cent less than total weekly turnover of previous week, which was recorded at Rs 4.69 billion. In the past week, 10.1 million shares of 182 firms had changed hands through 47,071 transactions. It has to be noted though that the share market had remained open for normal five trading days in the previous week.

In terms of weekly turnover, Nepal Bank Ltd was at the top with Rs 85.92 million. It was followed by Rastriya Beema Company (Promoter) with Rs 60.49 million, Swadeshi Laghubitta Bittiya Sanstha with Rs 47.7 million, Rastriya Beema Company with Rs 45.41 million and Premier Insurance Company with Rs 40.82 million.

Nepal Bank was also the forerunner in terms of trading volume, with 242,000 of its shares changing hands. Meanwhile, Swadeshi Laghubitta Bittiya Sanstha secured the top spot in terms of number of transactions — 1,630.