Trading starts at stock market

Kathmandu, April 16:

Almost after a week transaction of shares began at the trading floor today at the Nepal Stock Exchange (Nepse).

Of the total 129 listed companies at the Nepse, only 10 companies’ shares were traded through at the trading floor today. Earlier, some brokers on April 12 have demanded for sound environment and investment climate for share trading and warned not to allow transactions.

Mukunda Dhungel, general manager of the Nepal Stock Exchange Ltd, talking to The Himalayan Times said, stock market is not affected in any part of the globe by the strike as this sector involves brokers, investors and employees.

Dhungel said that it should not be disturbed as it is of a sensitive nature. Asked why Nepse stalled the transaction for a week, he replied, “I did not know the cause, as I was out of station for some time.”

Dhungel informed that shares amounting to about Rs 1100,000 were traded at the floor today.

The shares of Nabil Bank Ltd, Nepal Bangladesh Bank Ltd, Bank of Kathmandu Ltd, Machhapuchhre Bank Ltd, Siddhartha Bank Ltd, Nepal Lube Oil Ltd, NECO Insurance Ltd, Kist Merchant Banking and Finance Ltd, Capital Merchant Banking and Finance and Prudential Bittiya Sanshta Ltd were traded today. The price of the shares of all five banks declined today, though marginally, according to the Nepse.

The Nepse index posted 334.27 point today which is a decline by 0.50 point compared to a week ago. The total number of shares traded today were 8704 from 13 transactions.

The daily transaction of shares sometimes comes to around Rs 20 million. The average transaction stands at about Rs 10 million, according to the stock exchange.

According to Dhungel, “Today, the prices of 15 banks were coded at the trading notice but only five banks’ shares were traded throughput the day.”