Nepal | September 21, 2020

Nepse starts new fiscal in bullish trend

Himalayan News Service
Share Now:

Kathmandu, July 20

The country’s sole secondary market welcomed the new fiscal year 2019-20 by advancing 1.92 per cent or 23.95 points in the trading week between July 14 and 18.

“Investor sentiment has been guided by the general trend of stock prices going up with the beginning of the new fiscal,” said Prakash Rajhaure, an independent share market analyst, adding that market players are also being able to get their hands on sufficient money, which has also helped in increasing the buying pressure.

However, most investors are still in wait-and-see mode for Monetary Policy for ongoing fiscal year, as per Rajhaure. While the policy was earlier scheduled to be announced on July 12, it has been postponed and the next date is yet to be disclosed.

Consequently, even as the share market snapped out of a two-week losing streak, the weekly turnover slumped by 27.8 per cent to Rs 1.90 billion compared to the previous week. In the previous week, the market witnessed turnover of Rs 2.63 billion. Likewise, the trading volume also dropped in the review week to 8.6 million shares from 11.36 million shares that had changed hands in the past week.

However, trading of mutual funds scrips soared by 240.02 per cent as compared to the previous week to Rs 30.5 million. In the previous week, mutual funds witnessed turnover of Rs 8.97 million.

Sensitive index rose by 2.05 per cent or 5.51 points to 273.84 points.

Float index went up by 2.07 per cent or 1.90 points to 93.62 points.

The benchmark index had opened at 1,248.55 points on Sunday and inched up by 0.96 point by the time of closing. After adding 5.08 points and 4.45 points on Monday and Tuesday, the local bourse recorded a hefty 15.85-point gain on Wednesday. On Thursday, however, Nepse shed 2.37 points to close the week at 1,272.50 points.

Apart from trading, which remained constant at 259.85 points for not recording any transaction, all the subgroups landed in the green zone.

The mutual fund subgroup was the biggest gainer of the week, soaring by 6.64 per cent or 0.63 point to 10.12 points.

Manufacturing sub-index advanced by 3.10 per cent or 81.92 points to 2,717.5 points on the back of share price of Shivam Cements going up by Rs 42 to Rs 630 and Unilever Nepal’s up Rs 150 to Rs 20,400.

Development banks subgroup went up by 2.60 per cent or 41.53 points to 1,636.87 points.

Close on its heels, microfinance subgroup rose by 2.52 per cent or 35.90 points to 1,460.48 points, with share price of Chhimek Laghubitta Bikas Bank up Rs 24 to Rs 974.

Hydropower sub-index ascended by 2.36 per cent or 28.07 points to 1,216.62 points. Hotels rose by 1.93 per cent or 39.21 points to 2,070.62 points. Soaltee’s share value went up by five rupees to Rs 233, that of Oriental was up Rs 10 to Rs 616, while Taragaon Regency recorded a gain of six rupees to Rs 317.

Banking subgroup also went up by 1.91 per cent or 21.62 points to 1,148.39 points. The others sub-index rose by 1.39 per cent or 9.93 points to 720.76 points and life insurance was up by 1.28 per cent or 76.81 points to 6,040.71 points.

Likewise, finance subgroup went up by 1.27 per cent or 7.89 points to 627.43 points and non-life insurance increased by 1.18 per cent or 60 points to 5,104.26 points.

In the review week, Nepal Bank was the leader in terms of weekly turnover with Rs 202.13 million. It was followed by Shivam Cements with Rs 108.04 million, Nepal Life Insurance Co with Rs 97.50 million, Nabil Bank with Rs 75.21 million and Upper Tamakoshi Hydropower with Rs 64.84 million.

In terms of weekly trading volume, NMB Sulav Investment Fund- 1 took the lead with 1,855,000 of its shares changing hands. Nepal Bank with 597,000 shares, Civil Bank with 316,000 shares, Mega Bank Nepal (Promoter Share) with 312,000 shares and Nabil Equity Fund with 258,000 shares were the other top firms in this category.

Meanwhile, Infinity Laghubitta Bittiya Sanstha was the forerunner in terms of number of transactions with 2,074 deals. It was followed by Upper Tamakoshi with 1,357, Nepal Bank with 984, Shivam Cements with 869 and Mega Bank Nepal with 684 transactions.


A version of this article appears in print on July 21, 2019 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...