Nepal | September 21, 2020

Nepse past 1,800-point mark

Himalayan News Service
Share Now:

Nepse index, gainers and losersKathmandu, July 19

As stock investors continued to swarm towards the shares of commercial banks, the domestic share market set a new record today, with the Nepal Stock Exchange (Nepse) index breaching the threshold of 1,800 points.

The benchmark index, which had opened at 1,786.57 points had surged as high as 1,813.06 points in the early trading hour before paring back some of the gains, but settling at a fresh peak of 1,800.47 points at the day’s closing.

“Apart from being a seasonal phenomenon, investors have been attracted to the scrips of commercial banks in expectation of their good performance in the last quarter like in the previous quarters,” explained Rabindra Bhattarai, a share market analyst.

While the recent monetary policy has capped margin lending at 50 per cent, Bhattarai said most financial institutions were well within the limit and the policy would not have an adverse impact.

“The policy was mostly in favour of the secondary market and only investors who were pinning their hopes on the central bank requiring microfinance companies to raise their paid-up capital were left disappointed,” he added.

The sub-index of commercial banks led the pack of gainers today, with the banking subgroup surging by 2.13 per cent or 35.48 points to 1,699.95 points.

Hotels rose by 1.75 per cent or 35.33 points to 2,058.07 points; manufacturing and production went up by 1.51 per cent or 40.24 points to 2,706.66 points; and finance gained 1.04 per cent or 8.81 points to 852.27 points. The subgroup of development banks inched up 0.91 per cent or 15.77 points to 1,753.71 points.

Conversely, insurance subgroup plunged by 2.58 per cent or 240.19 points to 9,052.45 points; others dropped 1.98 per cent or 17.07 points to 844.78 points; and hydropower dipped 0.37 per cent or 9.93 points to 2,669.51 points.

Altogether, 2.9 million shares of 139 companies worth Rs 2.14 billion were traded through 9,730 transactions during the day. With the surge in transactions in the country’s only secondary market, the total market capitalisation today stood at Rs 1.98 trillion.

While Nepse had extended the trading period by one hour since Sunday, Bhattarai opined the trading volume has not gone up as expected.

The sensitive index, which gauges the performance of class ‘A’ stocks, went up by 0.93 per cent or 3.58 points to 388.10 points. Similarly, the float index that measures the performance of shares actually traded advanced by 1.18 per cent or 1.54 points to 132.50 points.

“Since the Nepse index is normally bullish in the period between mid-July to mid-September, there are high chances the benchmark index will breach the 2,000-point threshold in the near future,” Bhattarai said.

 


A version of this article appears in print on July 20, 2016 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Photo Gallery: Rohingya refugees receive relief in Kapan amid COVID-19 crisis

KATHMANDU, SEPTEMBER 21 Hiteri Foundation provided food relief packages to long-persecuted Rohingya Muslim refugees here in Kapan on Sunday, September 20. More than 175 families are taking shelter in Kapan after entering Nepal following a mass exodus from their native Myanamar. Also seen in pi Read More...

Nepali Army soldier Nepal’s first security person to die of COVID-19

KATHMANDU, SEPTEMBER 20 Country witnessed the first death of a security person due to COVID-19. The deceased, a 34-year-old soldier of Nepali Army was posted in Kathmandu. He hailed from Ramechhap district. However, Nepali Army has not yet revealed the identity of the deceased. The deceased wa Read More...

Mane double eases Liverpool to 2-0 win over 10-man Chelsea

LONDON: Two goals from Sadio Mane just after halftime eased champions Liverpool to a 2-0 win over 10-man Chelsea in the Premier League season's first heavyweight clash at Stamford Bridge on Sunday. A dull game never threatened to live up to the eight-goal thriller when the sides met in Read More...

Son and Kane combination leads Spurs rout of Southampton

SOUTHAMPTON: Son Heung-min scored four goals set up by Harry Kane as Tottenham Hotspur came from a goal down to overwhelm Southampton 5-2 on Sunday and earn their first Premier League win of the season. In an action-packed first half at St Mary's, both sides had a goal ruled out by VAR before Read More...

Women, children highly affected by COVID pandemic

KATHMANDU, SEPTEMBER 20 The National Women Commission today organised a webinar on ‘Impact of COVID-19 on Women and Initiatives Taken by NWC and Nepal Police in Addressing Gender Based Violence Issues’ to highlight impact of pandemic on women and children across the country. According to t Read More...

Thapa vows to establish RPP as strong force

KATHMANDU, SEPTEMBER 20 Chairperson of Rastriya Prajatantra Party Kamal Thapa today pledged to establish the party as a strong force. The country would become prosperous and sovereign only by pursuing the ideology RPP as Nepal is faced with complex geo-political situation, he claimed at a virt Read More...

NCP Secretariat dwells on Cabinet reshuffle

KATHMANDU, SEPTEMBER 20 The Secretariat of the ruling Nepal Communist Party (NCP) today began discussion on Cabinet reshuffle. NCP Spokesperson Narayan Kaji Shrestha said the meeting discussed policy issues regarding the Cabinet reshuffle from different angles, but it did not take a decision o Read More...

Ministry of Urban Development

Bancharedanda landfill site to be completed by mid-October

KATHMANDU, SEPTEMBER 20 State Minister of Urban Development Rambir Manandhar said construction of a sanitary landfill site at Bancharedanda on the border of Nuwakot and Dhading districts will be completed by mid-October. During monitoring of the under-construction landfill site today, State Mi Read More...