Stock market stays immune to ongoing political turmoil

KATHMANDU: Despite political turmoil, the Nepal Stock Exchange (Nepse) index gained 10.91 points and reached 676.64 this week. Last week, the index closed at 665.73 points. Experts of the capital market have taken this trend as recovery of past loss.

The Nepse trading floor was open five days May 17 to 21 and shares of 86 companies were traded in 6708 transactions. Around 531,800 units of shares equal to Rs 420.7 million were traded on the Nepse floor, which is 51.70 per cent more than previous week’s Rs 277.3 million in 5118 transactions.

The class ‘A’ companies dominated in total transactions with 67.78 per cent (Rs 285.1 million) of the total traded amount.

Nepal Development and Employment Promotion Bank was at the top in all three categories transaction amount (Rs 58.81 million), shares traded (111,000 units) and transactions (2,527 times).

Standard Finance, Standard Chartered Bank, Bank of Kathmandu and Nepal SBI Bank were in second to fifth position in that order with Rs 57.15 million, Rs 52.73 million, Rs 27.06 million and Rs 20.06 million, respectively. Nepse experienced gain and loss in different categories.

The business group was the top gainer with 32.65 points between May 17 and May 21 whereas the hydropower group was the top loser slipping down 28.59 points.

Following the hydropower group trend, manufacturing industries group and development banks group lost 0.67 points and 16.24 points, respectively.

Nepse’s sensitive index, which measures trade of class ‘A’ companies, gained 2.06 points and closed at 177.62 points on May 21. The float index also gained 0.33 point between May 17 (64.31 points) and May 21 (64.64 points). Around 6,851,862 units of rights shares of National Hydropower Company were listed at Nepse this week.