Nepal | September 29, 2020

Positive political cues push Nepse up 0.98pc

Himalayan News Service
Share Now:
Nepse

Source: Nepse

Kathmandu, February 13

The optimism of stock investors got a boost owing to encouraging development on the political front with the agitating Madhes-based parties withdrawing their border blockade. Consequently, Nepal Stock Exchange (Nepse) index clocked a weekly gain of 12.3 points or 0.98 per cent to rest 1,263.72 points, from February 7 to 11.

Opening at 1,251.42 points on Sunday, the benchmark index had surged by 11.4 points by the day’s closing to record an all-time high of 1,262.82 points. On Monday, Nepse added another 0.93 points to close at a fresh high of 1,263.75 points.

The country’s only secondary market remained closed on Tuesday and Wednesday. On Thursday, local bourse shed 0.03 points to rest at 1,263.72 points.

“The recent quarterly reports of various companies, especially banking institutions, showed profits even during the difficult times . This has boosted investors’ confidence,” explained Rabindra Bhattarai, a stock market analyst.

He further said that due to low lending rates of banks and financial institutions, the benchmark index may surge in the coming days and the chances of market correction in the immediate future is minimal.

Altogether 3.3 million shares of 130 companies worth Rs 1.90 billion were traded through 10,107 transactions in the review period. The traded amount was 31.97 per cent less than the preceding week, when 13,922 transactions of 4.47 million scrips of 128 companies that amounted to Rs 2.80 billion had been undertaken.

Sensitive index rose 1.09 per cent to 272.45 points. Similarly, the float index also went up 1.04 per cent to 90.58 points during review period.

Among the subgroups, trading held steady at 201.38 points, while development banks and hotels subgroups landed in the red.

Hydropower led the pack of gainers, soaring by 6.45 per cent to 2,319.73 points. Chilime’s share value surged by Rs 117 to Rs 1,407, Api gained Rs 91 to Rs 540 and Barun was up Rs 36 to Rs 352.

Insurance subgroup went up 1.85 per cent to 5,567.66 points. Share price of Nepal Life Insurance rose Rs 15 to Rs 3,225, that of Asian Life by Rs 30 to Rs 1,330, of Everest Insurance by Rs 30 to Rs 1,010.

With Unilever Nepal’s stock value rising by Rs 540 to Rs 27,577, the sub-index of manufacturing went up 1.46 per cent to 1,950.88 points.

Others subgroup added 1.16 per cent to land at 821.2 points on the back of Nepal Telecom’s share price up eight rupees to Rs 699.

Banking sub-index rose by 1.14 per cent to 1,150.55 points. Everest gained Rs 60 to Rs 2,400, Nepal Investment was up Rs 42 to Rs 914.

Finance subgroup edged up 0.25 per cent to 603.17 points.

Meanwhile, development banks — which had led the market rally in the previous week — dropped 2.51 per cent to 1,261.6 points. Nagbeli plunged by Rs 190 to Rs 3,500, Swabalamban dived by Rs 160 to Rs 2,130, among others.

Hotels fell 1.21 per cent to 1,749.94 points, weighed by Soaltee down four rupees to Rs 326 and Oriental down Rs 10 to 449.

Nepal Bank topped the chart in terms of turnover with Rs 91.32 million, followed by Nepal Investment Bank (Rs 88.09 million), Rural Microfinance Development Centre (Rs 82.04 million), Neco Insurance (Rs 71.45 million) and Asian Life Insurance (Rs 66. 5 million).

National Hydropower was the forerunner in terms of shares traded with 368,000 of its scrips changing hands. Meanwhile, Rural Microfinance Development Centre topped the chart in terms of transactions with 544 deals.

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

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


A version of this article appears in print on February 14, 2016 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

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...

K-pop’s BLACKPINK drop teaser for title track ‘Lovesick Girls’ from debut album

KATHMANDU: K-pop’s most popular girl band BLACKPINK on September 28 announced Lovesick Girls, the title track of their debut full-length LP The Album. According to The Korea Times, the group's label YG Entertainment dropped a teaser poster on social media, announcing the title track, Lovesi Read More...

President issues three ordinances

KATHMANDU: President Bidya Devi Bhandari has issued three ordinances, including one related to prevention and control of acid and other harmful chemicals. The President issued these ordinances in accordance with Article 114 (1) of the Constitution of Nepal and on the recommendation of the Council Read More...