Nepal | September 29, 2020

Political uncertainty rattles stock investors’ nerves

Himalayan News Service
Share Now:
Figures in rupees per dollar. Source: NRB Figures in rupees per dollar. Source: NRB

Figures in rupees per dollar. Source: NRB
Figures in rupees per dollar. Source: NRB

Kathmandu, October 10

The ongoing Tarai protests and political uncertainty caused the Nepal Stock Exchange (Nepse) index to decline by 16.68 points or 1.41 per cent week-on-week to rest at 1,162.06 points, from October 4 to 8.

Opening at 1,178.74 points on Sunday, the benchmark index added 4.74 points by the day’s closing. However, the increasing political uncertainty dampened investor spirit, who rushed to offload their stocks. Consequently, Nepse tumbled by 12.21 points, 12.48 points and 9.34 points on Monday, Tuesday and Wednesday, respectively.

Even as the local bourse increased by 12.61 points on Thursday, it was not enough to offset the losses of previous three trading days.

Altogether 3.76 million units of shares of 155 companies worth Rs 2.13 billion were traded during the week through 10,573 transactions. The traded amount was 7.65 per cent higher than the previous week when 9,914 transactions of 3.07 million scrips of 151 firms amounting to Rs 1.99 billion had been undertaken.

The sensitive index dropped 3.98 points to 251.64 points. Likewise, the float index also shed 1.11 points to land at 83.02 points.

Apart from trading, which remained constant at 207.97 points, most subgroups witnessed double digit losses and even those that managed to land in the green terrain recorded only minimal gains.

Source: Nepse

Source: Nepse

Manufacturing saw a massive loss of 7.46 per cent to close at 1,890.86 points. This was mostly due to Unilever Nepal’s share value plummeting by Rs 2,899 to Rs 26,091 and Himalayan Distillery down nine rupees to Rs 540.

Hotels dropped 2.89 per cent to 1,857.53 points. Oriental’s stock price landed at Rs 570 (down Rs 26), Soaltee’s at Rs 436 (down Rs 12) and Taragaon Regency’s at Rs 231 (less Rs 11).

Banking subgroup declined 1.93 per cent to 1,100.43 points. Nabil Bank’s share price went down by Rs 110 to Rs 2,440 and Nepal Investment’s dropped by Rs 23 to Rs 1,040, among others.

Close on its heels, hydropower retreated by 1.28 per cent to 2,015.36 points, with Chilime losing Rs 20 to Rs 1,405, Sanima Mai ending at Rs 806 (down five rupees) and Ridi closing at Rs 385 (down Rs 10).

Meanwhile, the insurance sub-index dipped 0.58 per cent to 4,914.59 points.

Even with an increase of a mere 0.66 per cent to 963.25 points, development banks took the lead among the gainers. Chhimek Laghubitta Bikas Bank added Rs 99 to Rs 1,799 and Swabalamban Bikas Bank surged by Rs 101 to Rs 2,303, among others.

Nepal Telecom, the company with the highest market capitalisation among the firms listed at Nepse, saw its stock price rise one rupee to Rs 655, thereby helping the others subgroup inch up 0.15 per cent to 769.51 points. Finance managed to land in the green zone, but barely, by adding 0.02 point to 567.21 points.

Everest Bank topped the charts in terms of turnover with Rs 277.72 million, followed by Nepal Life Insurance with Rs 114.93 million, International Leasing and Finance Co with Rs 100.01 million, Nabil Bank (Promoter Share) with Rs 89.54 million and Nepal Investment Bank (Promoter Share) with Rs 86.51 million.

International Leasing and Finance Co was the forerunner in terms of number of shares traded with 451,000 of its scrips changing hands. Meanwhile, Everest Bank (Promoter Share) took the lead in terms of transactions with 641 deals.


A version of this article appears in print on October 11, 2015 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

1,351 new cases take Nepal’s coronavirus tally to 74,745 on Monday

KATHMANDU: Nepal’s coronavirus tally moved to 74,745 as 1,351 new infections were reported in the last 24 hours. As many as 742 people that had earlier contracted Covid-19 tested negative for the infection as per the Ministry’s latest data. So far, 54,640 people have recovered from the diseas Read More...

Baitadi district

Baitadi jail facing challenges due to overcrowding

BAITADI: District Jail, Baitadi has been facing problems in the management since it has been housing more than twice the number of jailbirds to its capacity. The jail is currently housing 58 persons including 31 inmates and 27 detainees. However, the prison only has the capacity to accommodate Read More...

Kathmandu Valley records 817 infections on Monday

KATHMANDU: Kathmandu valley logged over 800 additional cases of coronavirus infection in the last 24 hours. As per the Health Ministry’s latest report, 817 new infections surfaced in the valley today, which 60.47 per cent of the total caseload. Read Also: 1,351 new cases take Nepal’s coro Read More...

Four Covid-19 fatalities recorded on Monday, tally shifts to 481

KATHMANDU: Four people passed away from Covid-19 related complications in the last 24 hours, with which the nationwide death-toll has moved to 481. Two women and two men lost their lives due to this infection, the Health Ministry’s latest update showed. Read Also: 1,351 new cases take Nepal Read More...

Royal Bengal Tiger of Chitwan National Park

Mahout killed in tiger attack in Chitwan National Park

CHITWAN: A man has been killed in a tiger attack in an intermediate community forest of Chitwan National Park today. Previously, a person was killed by a tiger two days ago on Saturday in the western part of Chitwan district. The deceased has been identified as Babana Chaudhary (55) of Ratnanagar Read More...

Coronavirus , vaccines, vaccines trails

Inovio's potential COVID-19 vaccine trial on partial clinical hold

LONDON: Inovio Pharmaceuticals Inc said on Monday the US Food and Drug Administration had placed a partial clinical hold on the company's planned mid-to-late-stage trial of its experimental coronavirus vaccine candidate. The company said the pause was not due to any side effects in its early-stag Read More...

Ronaldo double earns point for 10-man Juventus at Roma

ROME: Cristiano Ronaldo’s second goal of the night rescued a 2-2 draw for 10-man Juventus away to AS Roma in Serie A on Sunday, after Jordan Veretout had twice put the capital club in front. Veretout and Ronaldo netted penalties after both teams were penalised for handball, and the French midfield Read More...

Nepal COVID-19 Update: 1351 new cases, 742 recoveries, four fatalities recorded on Monday

KATHMANDU: Nepal’s Health Ministry, in its regular press briefing, shared the latest updates on coronavirus contagion from across the country, and government’s response to the health crisis. READ ALSO: Kathmandu Valley records 817 infections on Monday As of today, 998,407 tests throug Read More...