Nepal | September 30, 2020

Nepse rebounds by 18 points

Himalayan News Service
Share Now:

NepseKathmandu, July 8

The Nepal Stock Exchange (Nepse) index rebounded by 18.3 points or 1.17 per cent in the trading week between July 2 to 6, on expectations of a pro-market Monetary Policy.

Investor sentiment got a major boost during the week as Nepal Rastra Bank (NRB), the central monetary authority of the country, is unveiling the monetary policy for next fiscal year 2017-18 this week.

According to Narendra Sijapati, the former chairman of Stock Brokers Association of Nepal, share investors have pinned their hopes on the upcoming monetary policy addressing the credit crunch issue. “Moreover, investors have been suffering due to higher interest rates, and they are hoping that
the market regulator will help bring the situation under control,” he added, explaining the two major factors for investor optimism in the trading week.

Strong performance of banks and financial institutions that have a major stake in Nepse made a major contribution in driving up the benchmark index in review period.

Nepse new listingsThe sub-index of banking surged by 15.65 points or 1.12 per cent to 1,412.59 points, and that of development banks went up 25.99 points or 1.35 per cent to 1,953.73 points. Share price of commercial banks like Nabil and Standard Chartered went up by 0.07 per cent to Rs 1,500 and by 0.61 per cent to Rs 2,309, respectively.

Similarly, hotels, went up by 31.13 points or 1.38 per cent to 2,273.53 points, while trading remained unchanged throughout the week at 212.76 points.

The insurance subgroup took the lead among the gainers during the review period, with the sub-index recording a strong growth of 199.65 points or 2.43 per cent to rest at 8,396.27 points. Stock price of Nepal Life surged by 6.11 per cent to Rs 2,170 and National Life rose by 3.05 per cent to Rs 2,329.

The index of hydropower came down to 1,939.95 points with a fall of 6.93 points or 0.35 per cent.

Following this, finance also dipped by 3.99 points or 0.53 per cent to 742.92 points.

The benchmark index had opened at 1,563.81 points on Sunday and had dropped by nearly 22 points by the day’s closing. The market continued to bob throughout the week, inching up 2.47 points on Monday, shedding 3.01 points on Tuesday before adding 9.78 points on Wednesday. The share market rebounded strongly on Thursday, gaining 31.05 points to close at 1,582.11 points for the week.

The sensitive index went up by 4.44 points or 1.34 per cent to 336.1 points and float index also gained 1.51 points or 1.32 per cent to 116.12 points.

Altogether, 7.02 million shares of 162 companies worth Rs 2.64 billion were traded through 27,032 transactions during the review period. The traded amount was a whopping 42.1 per cent higher than the previous week when altogether 3.41 million shares of 160 companies worth Rs 1.85 billion had changed hands through 16,006 transactions. It has to be noted, however, that the share market had remained open for only three days in the previous week against normal five days during the review period.

Meanwhile, Nepal Life Insurance topped the chart in terms of turnover with Rs 211.52 million, followed by Sanima Bank with Rs 126.56 million, Standard Chartered Bank with Rs 123.40 million, Nepal Credit and Commerce Bank with Rs 78.72 million and Nerude Laghubitta Bikas Bank with Rs 74.14 million.

While Nepal Life Insurance was also the forerunner in terms of number of number of transactions, with 3,769 transactions recorded under its name, NIBL Samriddhi Fund-I secured the top spot with regards to trading volume with 1.12 million of its scrips changing hands.

A version of this article appears in print on July 09, 2017 of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Diogo Jota

Liverpool maintain 100% start with win over Arsenal

LIVERPOOL: Premier League champions Liverpool maintained their 100% start to the season with a 3-1 win against Arsenal at Anfield on Monday leaving them level on nine points with pacesetters Everton and Leicester City. The visitors took the lead through an Alexandre Lacazette strike but L Read More...

Fulham, Aston Villa, Ivan Cavaleiro, Matty Cash

Villa beat Fulham 3-0 to move into top four

LONDON: Aston Villa moved into the Premier League top four after they strolled to a 3-0 win at Fulham thanks to goals from Jack Grealish, Conor Hourihane and Tyrone Mings in a lopsided contest on Monday. The result left Villa, who narrowly avoided relegation last season, fourth on a maximu Read More...

Private hospitals, labs to charge Rs 3,899 for PCR test

KATHMANDU, SEPTEMBER 28 Private hospitals have fixed their own rate for conducting polymerase chain reaction tests, saying that the fee allocated by the Ministry of Health and Population was too less. Eight private hospitals and labs, including HAMS Hospital, Star Hospital, B&B Hospital an Read More...

President issues ordinances on acid attack punishment, acid sale regulation

KATHMANDU, SEPTEMBER 28 President Bidhya Devi Bhandari today issued two ordinances to increase jail sentence for acid attackers and to regulate the sale and distribution of acid and other harmful chemicals. One of the ordinances amended the new penal code, proposing to increase jail term for a Read More...

Editorial: Unemployment problem cannot be addressed unless all levels of govt work together to create jobs within the country

The unemployment problem cannot be addressed unless all levels of govt work together to create jobs within the country Unemployment is a big problem in Nepal. That is why youths in large numbers migrate to other countries, mostly India, the Middle East, Malaysia, South Korea and Japan, where they e Read More...

Ayurvedic literature: Delving into its history

The travelogue of Chinese pilgrim Faxian was the earliest testimony to describe the healthcare system in ancient South Asia. It is close to the description by the earliest Ayurvedic compendium, Charaka Samhita Ayurveda has become a buzzword in the contemporary setting of medicine in the era of COVI Read More...

Six student leaders arrested for staging protest outside Chinese Embassy in Kathmandu

KATHMANDU, SEPTEMBER 28 Six student leaders of Nepal Student Union, the student wing of major opposition Nepali Congress, were arrested today for staging a protest outside the Chinese Embassy at Baluwatar against the alleged border encroachment by the Chinese side in Humla district. The NSU le Read More...

Woman found dead in Saptari district

A police team has been deployed from Province Police Office, Janakpur, to investigate the case RAJBIRAJ, SEPTEMBER 28 A 50-year-old woman was found dead at Mayanakaderi village, Ward No 2 of Tirhut Rural Municipality, Saptari, yesterday. The body of Dayaman Devi, wife of local Shiv Narayan, w Read More...