Weekly share update : Stock market rides on bullish trend

Kathmandu, September 30 :

Stock market has been able to sustain last week’s growth trend this week and posted a growth of 2.63 points, due to good performance of commercial banks group.

The index of the country’s sole secondary market Nepal Stock Exchange (Nepse) index has been on a continuous rise since last three weeks with a growth of 4.50 points last week and 1.63 points a week before that.

The weekly trading index closed at 394.25 points on Thursday, up from the beginning 391.62 points on Sunday. The trading registered a steady growth throughout the week, as the index went up to 392.41 points on the second day and 392.76 points on the third day.

According to Nepse, the weekly turnover stood at Rs 31.2 million with 51,327 unit shares having been traded through 366 transactions over the week. A total of 125,007 unit shares worth over Rs 64.3 million were traded through 1,586 transactions last week. Of the listed 43 companies for share trading, 32 companies saw their transactions this week.

The commercial banks group registered a growth of 7.35 points. Its index opened at 432.81 points and ended at 440.16 points. Likewise, the finance group gained 2.67 points. Its index touched 270.67 points from 268 points.

The weekly trading report shows that out of the eight groups, the four groups including the leading scrip commercial banks registered a growth, while three groups remained constant and the finance group became a sole loser. The commercial banks group, which is the largest scrip by volume at Nepse, continued with a bullish ride, as it posted a growth of 3.99 points. The group ope-ned its trading at 439.79 poi-nts on Sunday and closed at 443.78 points on Thursday.

The others group recovered with a growth of 1.87 points. Its index went up to 416.20 points on the closing day, up from 414.33 points on Sunday.

The indices of insurance and development banks groups increased by 0.96 points and 2.80 points to record 396.10 points and 317.27 points respectively. The index of the insurance group started at 395.14 points, while the development banks group began at 314.47 points. Both the groups had suffered loss last week.

On the other hand, the finance group suffered a nominal loss of 0.02 point, as its index dropped to 271.62 points on Thursday from the opening 271.64 points on Sunday. The manufacturing, the hotel and the trading groups, meanwhile, saw no changes as their indices remained unchanged at 314.69 points and 180.96 points respectively.

The commercial banks group dominated the Nepse floor, as it continued to capture a lion’s share in the total transactions. The commercial banks group’s share accounted for 71.94 per cent. The others group followed it and stood second with 16.87 per cent, while the finance group captured 7.61 per cent of the total share transactions.

Likewise, development banks and finance groups captured 1.75 per cent and 1.61 per cent respectively. The hotel group cornered a mere 0.21 per cent share of the total transaction.

Nepal Investment Bank Ltd topped all companies in turnover, as it’s trading valued stood at Rs 9.38 million. Chilime Hydropower Company surpassed others in terms of the number of shares traded during the week. A total of 13,975 unit shares of the company exchanged hands at the floor.

Siddhartha Bank Ltd topped the race in terms of transactions, as its shares were traded through 61 transactions.