Weekly share update : Nepse crosses 900 points

Kathmandu, November 17:

Nepali capital market has scaled yet another high this week by crossing 900 points mark in its 14-year long history.

Led by the commercial banks, development banks, financial institutions and hydropower groups, Nepal Stock Exchange (Nepse) index on Wednesday crossed 900 points mark and created a new history. The Nepse this week opened at 882.45 points on Monday and continuously increased — on the closing of first day, on Monday at 889.12, Tuesday at 892.28 and Wednesday at 902.45 and closed on Thursday, the last day of the trading, at 915.38 points — throughout the whole week breaking all the past records and scaling new high.

However, the market watchers are amazed by the increase in the commercial banks’ share prices and especially of those banks, whose promoters’ other businesses are in loss. “The same promoters’ another businesses are not doing well but their banks are posting profits and the share prices of their banks are high,” one investor, without wanting to be quoted, said, adding that he doesnot know what it indicates to.

Nepse gained a total of 26.26 points within four-day transaction this week. The sensitive index also posted a growth of 8.38 points to end at 239.82 points. Among the total transactions, companies under the ‘A’ category held 72.03 per cent.

Among the sectoral indices, the Development Banks’ group flared up by 62.24 points, the Commercial Banks group surged by 30 points and Hydropower group went up by 42.96 points. However, the index of Hotel group ended in negative territory recording a loss of 0.77 point.

In terms of monetary value for this week, Bank of Kathmandu, NIC Bank, Siddhartha Bank, Nepal Investment Bank, Sanima Development Bank are the gainers. Last week Development Credit Bank, Standard Chartered Bank, Kist Merchant Bank and Finance, Sanima Development Bank and NIC Bank were among the major gainers in terms of monetary value.

Manufacturing group and Others group posted no changes in their indices this week too. This week too, National Hydropower Co topped the chart in terms of number of shares traded with 63,100 units of shares and Sanima Development Bank topped the list in terms of number of transaction with 164 transactions.

This week, 51 listed firms’ shares were traded at the Nepse floor, where government bonds and debenture were not traded.