Nepal | September 29, 2020

Nepse sees buying pressure mid-week

Himalayan News Service
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Kathmandu, December 31
Despite clocking a weekly loss of 32.03 points or 2.17 per cent between December 26 and 29, the domestic share market ended the year 2016 on a buoyant note, with the benchmark index witnessing gains in the last two trading days.

While the market remained closed on Sunday in celebration of Christmas Day, Nepal Stock Exchange (Nepse) index had opened at 1,475.41 points on
Monday. The benchmark index had plunged by 42.84 points by the day’s closing and was southbound the next day as well, dropping by 25.04 points. Starting Wednesday, however, the local bourse reversed course. After edging up 5.62 points in the previous day, Nepse rose by 30.23 points on Thursday to close the week at 1,443.38 points and tapering the loss
recorded in the first two days of the week.

The sensitive index, which gauges the performance of class ‘A’ stocks, dropped by 7.12 points or 2.23 per cent to 311.64 points. Similarly, the float index that measures the performance of shares actually traded also fell by 2.39 points or 2.18 per cent to 107.13 points.

Altogether, 5.24 million shares that amounted to Rs 2.11 billion changed hands through 17,423 transactions in the week. In comparison, 21,519 transactions of 3.63 million scrips worth Rs 2.85 billion had been undertaken in the previous week. The share market had remained open for only four days in the past week as well due to a public holiday.

While manufacturing and trading remained constant at 2,136.91 points and 205.03 points, respectively, hotels was the lone subgroup to witness a gain in the week.

Hotels recovered some of the loss of 2.54 per cent of the past week as the sub-index went up by 40.13 points or 2.17 per cent to 1,885.23 points. Soaltee gained 2.26 per cent to Rs 316, Taragaon Regency edged up 1.91 per cent to Rs 213 and Oriental rose 2.64 per cent to Rs 467.

On the other hand, insurance saw the biggest loss of 186.25 points or 2.67 per cent, with the sub-index landing at 6,786.04 points. Nepal Insurance Co dipped 1.65 per cent to Rs 836, National Life took a dive of 5.79 per cent to Rs 2,016 and Prime Life plunged by 6.54 per cent to Rs 1,599.

The gain of 1.89 per cent that the others subgroup had recorded in the past week was wiped out as the sub-index slumped by 19.96 points or 2.66 per cent and closed at 729.4 points. This was because of share value of Nepal Telecom dropping by 2.13 per cent to Rs 690.

Banking, the share market heavyweight, took a dive of 33.62 points or 2.4 per cent to settle at 1,365.08 points. Stock price of commercial banks like Standard Chartered slumping by 5.31 per cent to Rs 1,891 and Nabil
edging down 0.72 per cent to Rs 1,519 weighed on the sub-index.

After plunging by 6.3 per cent in the past week, hydropower managed to limit its loss to 33.2 points or 1.9 per cent to rest at 1,710.34 points. Chilime tumbled by 11.11 per cent to  Rs 800 and Sanima Mai slipped by 1.15 per cent to Rs 775.

Similarly, finance shed 11.17 points or 1.58 per cent to 695.75 points and development banks fell by 22.44 points or 1.45 per cent to 1,522 points.

A version of this article appears in print on January 01, 2017 of The Himalayan Times.

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