Share market bull in no mood to give in


It was another record-setting week in the country’s sole secondary market, with the Nepal Stock Exchange (Nepse) index soaring by 8.57 per cent or 162.20 points in the trading period between November 29 and December 3.

Starting the week at 1,893.25 points on Sunday, the benchmark index had surged by 75.02 points by the time of closing to a fresh high. More than 25.94 million shares changed hands through 80,271 transactions that amounted to Rs 9.23 billion during the day — a record high.

Share market bull run continued for the next three consecutive days. While adding 28.79 points, the share market witnessed highest number of transactions recorded in a single day on Monday — 83,567.

The local bourse edged up 3.34 points to breach the threshold of 2,000 points on Tuesday. Nepse index jumped by 70.63 points on Wednesday to a fresh peak of 2,071.03 points. However, owing to selling pressure, the share market witnessed slight correction on Thursday, dropping by 15.58 points to close the review week at 2,055.45 points.

As per market analysts, correction in market movement ensures a longer bull run and investors are optimistic about the secondary market scaling to newer heights in the coming days.

Sensitive index, which easures the performance f class ‘A’ stocks, jumped by .42 per cent or 27.11 points o 392.29 points. The float ndex that gauges the perforance of shares actually raded also went up by 7.68 er cent or 9.87 points to 38.41 points.

A total of 101.17 million hares were traded through 57,255 transactions in the eview week that amounted o Rs 40.99 billion. The turnver was 29.94 per cent highr than the preceding week hen Rs 31.54 billion was raded through 287,130 ransactions of 75.84 million hares.

Majority of the subgroups ecorded hefty gains, alhough three landed in he red.

The pack of gainers was ed by others, with the subroup soaring by a staggerng 17.66 per cent or 269.79 oints to 1,797.85 points. It as closely trailed by hydroower, which jumped by 7.18 per cent or 253.86 oints to 1,731.67 points.

Life insurance subgroup umped by the most number f points — 1,636.40. Howver, in terms of percentage, t was up 14.92 per cent to lose at 12,606.69 points.

Microfinance advanced y 11.52 per cent or 329.41 oints to 3,188.61 points.

Manufacturing gained .31 per cent or 366.33 oints to 4,772.42 points; anking ascended by 4.24 er cent or 61.02 points to ,498.59 points; developent banks rose by 3.50 per ent or 75.09 points to 2,219.36 points; non-life insurance went up by 1.97 per cent or 191.89 points to 9,912.6 points; and hotels edged up by 0.95 per cent or 19.26 points to 2,050.47 points.

At the other side of the spectrum, others slumped by 7.28 per cent or 169 points to 2,151.32 points.

Mutual funds slipped by 2.23 per cent or 0.26 point to 11.41 points and finance sub-index shed 0.39 per cent or 3.55 points to 895.39 points.

Meanwhile, Nepal Reinsurance Co Ltd topped the charts of highest turnover and number of transactions, with Rs 2.81 billion traded through 18,144 transactions.

Nepal Telecom with Rs 1.69 billion, Nepal Life Insurance Co with Rs 1.60 billion, Nabil Bank with Rs 1.18 billion and Prabhu Bank Ltd (PBL) with Rs 1.17 billion were the other firms with highest weekly turnover.

Global IME Bank with 10,254 transactions, PBL with 10,514 transactions, Reliance Life Insurance with 10,083 transactions and Nepal Bangladesh Bank (NBB) with 8,706 transactions rounded up the top five in this category.

PBL was the forerunner in terms of trading volume, with 3.15 million of its shares changing hands. It was followed by Kumari Bank with 3.12 million shares, Sanima Equity Fund with 2.85 million shares, NBB with 2.80 million shares and Nepal Bank Ltd with 2.69 million shares.