WEEKLY SHARE UPDATE: Bull run continues on Nepse

Kathmandu, November 11:

Nepal Stock Exchange (Nepse), the country’s sole secondary market, this week reflected increasing investors’ confidence as its index registered a growth of 29.87 points and settled at 445.01 points. The Nepse index has been, however, on a bullish trend for the last two weeks.

The trading floor opened with 415.14 points on Sunday and gradually increased to 419.56 points on Monday, 424.21 points on Tuesday, 435.88 points on Wednesday and closed at 445.01 points on Thursday, the last day of the trading.

This week turned out to be profitable for the companies of all five leading groups, including commercial banks, insurance, other and the development banks groups. None of them suffered losses, though the index of two groups remained constant.

According to the Nepse, weekly turnover has also gone up significantly that stood at Rs 243.6 million with 417,338 unit shares having been traded through 2,453 transactions. A total of 404,218 unit shares worth over Rs 207.8 million were traded through 2,974 transactions. Out of the 68 listed companies for share trading, 59 companies saw their shares’ transactions this week.

The commercial banks group, which is the largest scrip by volume, registered an astounding growth of 44.61 points. Its index opened at 472.67 points on Sunday and closed at 517.28 points on the last day. Like the commercial banks, the other group also posted a sound growth of 14.01 points this week. The group’s trading closed at 466.06 points from the opening 452.05 points.

The manufacturing and the finance groups gained 1.01 points and 1.18 points respectively. The manufacturing group started its transactions from 313.68 points and closed at 314.69 points, while the finance group closed at 277.27 points from the opening 276.09 points.

The development banks group also recorded an impressive growth of 12.69 points and closed at 341.46 points. The insurance group, too, posted a growth of 7.13 points this week as its closing index stood at 397.67 points from the opening 390.54 points on Sunday.

The Nepse indices of the hotel, and the trading groups, meanwhile, remained unchanged throughout the week at 179.03 points and 149.71 points, respectively.

The commercial banks group dominated the Nepse floor, as it continued to capture a lion’s share of the total transaction. The group captured 83.01 per cent, while the finance group followed it with 7.74 per cent and the insurance group with 4.17 per cent share transactions.

Bank of Kathmandu topped in terms of turnover that stood at Rs 41,274,686, while Siddhartha Bank Ltd outshone others and had the maximum number of transactions. Lumbini Bank Ltd stood first in terms of largest number of shares traded during the week.

The Nepse floor opened for five days under a regular lot, where the shares of Standard Chartered Bank, Everest Bank, Bank of Kathmandu, NIC Bank, Machhapuchhre Bank, Kumari Bank, Lumbini Bank, Siddhartha Bank, NCC Bank, Chilime Hydropower Company and Credit Development Bank were traded throughout the week.