Other group leads bourse growth
Himalayan News Service
Kathmandu, January 29:
Propelled by other group’s robust performance, share trading at the country’s sole secondary Nepal Stock Exchange (Nepse) posted a growth for the third straight week. The Nepse index went up by 3.22 points this week.
After setting a declining trend, Nepse started to climb back two weeks ago, with an increase of 3.90 points in the Nepse index. The index registered a growth of 2.22 points last week. The robust performance of the other group continued for yet another week, as the Nepse index that began at 243.76 points on Monday climbed to 246.98 points on Friday.
Weekly share trading analysis reveals that the performance of the other group, albeit it contributes only in a small way to overall stock trading, registered an unprecedented growth of 55.86 points in a week. The Nepse index of the other group that opened at 272.78 points on Monday climbed up to 328.64 points on the closing day. Last week the group had recorded a growth of over 73 points. The insurance and development bank groups also posted growth, whereas the share market leader, commercial bank group along with finance and hotel groups, failed to gain during the five-day long trading.
Likewise the insurance group registered a growth, as its index went up to 238.34 points from the opening 238.44 points on Monday. The group had failed to register growth, last week. The development bank group’s index grew by 1.49 points and closed at 198.27 points on Friday. The group, which had lost ground last week, opened at 196.78 points.
However, the commercial bank group, the hotel group and the finance group, all registered losses, this week. The commercial bank, which is the largest scrip at the secondary market, suffered a loss of half a point. The group’s index landed at 255.40 points on the closing day from the opening 255.90 points.
The Nepse index of the hotel group settled at 172.25 points from the opening 172.63 points. The finance group landed at 207.74 points from 208.27 points on Monday. Both the groups lost out last week, too. The trading group and the manufacturing group, however, remained constant throughout the week at 98.87 points and 274.39 points respectively.
According to information released by Nepal Stock Exchange Ltd, the total transaction value stood at Rs 26,947,336 this week from 2,743 transactions of 109,940 share units throughout the week. However, last week’s total trading value was Rs 24,877,424 through 1,509 transactions and 200,642 shares.
Of the total listed 69 companies, 56 companies saw transactions this week. The commercial bank group continued to dominate the Nepse floor as it captured the largest chunk of total share trading. It captured 76.31 per cent of total trading, followed by the finance group with 15.77 per cent.
The other group was in the third position with 2.93 per cent market share, whereas the insurance group cornered 2.74 per cent and the development bank group contributed 2.04 per cent. The manufacturing group contributed 0.15 per cent, while the hotel group has a mere 0.07 per cent share of the total trading.
Kumari Bank Ltd topped the race of being the single largest trader in terms of share units, transactions and monetary value. A total of 22,570 unit shares of the bank were traded at Rs 3,230,580 through 585 transactions.