Weekly share update : Commercial banks take Nepse on ride
Kathmandu, November 4:
Share trading this week saw an impressive growth and closed with a sound growth of over 10 points. The Nepse index, which has been on rise for last two months, had crossed 400 points mark last week. Continuing its rising trend the index crossed yet another mark to reach 413.10 points from the opening 403.02 points. It had registered a gro-wth of 1.42 points last week. The trading floor opened at 403.02 points on Sunday, which increased to 405.13 points on Monday and 408.38 points on Tuesday. However, it dropped to 402.11 points on Wednesday but bounced back to 413.10 points on the closing day.
This week turned out to be worthy for the companies under the commercial banks and the other groups, as both the groups posted an impressive growth. The trading, finance and development banks groups are also gainers this week, while the rest three groups remained constant.
According to the Nepse, the weekly turnover stood at Rs 207.8 million with 404,218 unit shares having been traded through 2,974 transactions over the week. Out of the 58 listed companies for share trading, 48 companies saw their transactions this week. The commercial banks group, which is the largest scrip by volume, registered an impressive growth of 13.67 points. Its index opened at 455.62 points on Sunday and closed at 469.20 points. Likewise, the finance group gained 1.92 points as its index touched 276.23 points. The other group’s index continued to post sound growth this we-ek, too, as its index posted a rise of 17.18 points. The gr-oup’s trading closed at 450. 19 points from the opening 433.01 points. The group had posted an impressive growth last week, too.
The development banks group bounced back with a sound growth of 7.84 points and closed at 329.22 points. The group, which had lost last week, began its at 321.38 points on Sunday. The trading group, too, posted a growth as its closing index stood at 149.71 points from the opening 149.66 points.
The Nepse indices of the manufacturing, hotel, and insurance groups, meanwhile, remained unchan-ged throughout the week at 313.68, 179.03 and 394.58 points respectively.
The commercial banks group dominated the Nep-se floor this week as it continued to capture a lion’s share in the total transaction. The group’s share accounted for 88.61 per cent. The other group followed it and stood second with 6.95 per cent, while the insurance group captured 1.83 per cent share. The finance group cornered 1.80 per cent and the development banks group had a 0.80 per cent share in the total transaction.
Bank of Kathmandu top-ped in terms of turnover, which stood at Rs 63,537, 044. But Prudential Insurance Co outshone others in the maximum number of transactions with 1,678 transactions, and Laxmi Bank stood first in terms of largest number of shares traded during the week.
The floor opened for five days under a regular lot, where the shares of Standard Chartered Bank, Everest Bank, Bank of Kathmandu, NIC Bank, Machhapuc-hhre Bank, Kumari Bank, Lumbini Bank, Siddhartha Bank, NCC Bank, Chilime Hydropower Co and Credit Development Bank were tr-aded throughout the week.