Nepse index up by 10.90 points

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Kathmandu, February 15

The Nepal Stock Exchange (Nepse) has been on a bullish run since the last two months and keeping with this trend the secondary market edged up by 0.82 per cent or 10.90 points to 1,344.59 points between February 9 and 13.

Stock investors have said that despite the recent liquidity crisis, the market strengthened due to the positive investor sentiment in the review week.

Radha Pokharel, chairperson of Nepal Puzibazar Laganikarta Sangh, said that the local bourse has been on a bullish trend due to the positive statements related to the market from concerned government officials, especially the finance minister.

“In recent days, the finance minister has been making statements that have boosted the investor sentiment. The market has seen considerable growth following comments from Finance Minister Yubaraj Khatiwada and Chairperson of Securities Board of Nepal Bhisma Raj Dhungana that they would do the necessary to help the market,” she added.

Though the benchmark index did rise, the weekly turnover, however, dropped by 9.26 per cent as compared to the previous week to Rs 6.71 billion. In the previous week, the market had witnessed transactions worth Rs 7.39 billion. The trading volume also descended to 21.10 million stocks changing hands this week from 21.11 million in the previous week.

The secondary market had opened on Sunday at 1,333.69 points and dropped by 13.70 points by the end of the trading day. It more than recovered the loss over the next three days by adding 4.28 points on Monday, 17.11 points on Tuesday and 4.60 points on Wednesday. However, the benchmark index dropped by 1.39 points on Thursday to close the week at 1,344.59 points.

In the review week, microfinance, manufacturing, trading, non-life insurance, others, life insurance, mutual fund and finance sub-indices were in the green zone.

The microfinance sub-index was the biggest gainer of the week, rising by 7.52 per cent or 164.49 points to 2,352.12 points due to the share price of Chhimek Laghubitta Bikas Bank going up by Rs 88 to Rs 1,076.

Similarly, manufacturing subgroup ascended by 5.07 or 126.32 points to 2,616.18 points due to the share price of Bottlers Nepal (Tarai) surging by Rs 98 to Rs 6,600.

Meanwhile, the trading subgroup surged by 3.67 points or 29.44 points to 832.11 points due to the share price of Salt Trading Corporation increasing by Rs 77 to Rs 2,519.

Non–life insurance sub-index also went up by 2.84 per cent or 171.25 points to 6,200.29 points and others subgroup rose by 2.63 per cent or 18.11 points to 704.99 points.

Moreover, life insurance sub-index increased by 1.82 points or 137.03 points to 7,637.19 points and mutual fund subgroup went up by 0.73 per cent or 0.07 point to 10.07 points. The finance sub-group also inched up 0.08 per cent or 0.53 point to 671.31 points.

Meanwhile, hotels subgroup was the biggest loser of the week, plunging by 2.50 per cent or 69.55 points to 1,917.55 points due to the share price of Soaltee dropping by eight rupees to Rs 193.

Hydropower sub-index descended by 1.38 per cent or 14.13 points to 1,007.20 points.

Moreover, banking subgroup slipped by 0.78 per cent or 9.05 points to 1,144.77 points and development banks sub-index fell by 0.63 per cent or 11.54 points to 1,819.67 points.

In the review week, Shivam Cements was the leader in terms of weekly turnover with Rs 506.7 million. It was followed by NIC Asia Bank with Rs 296.8 million, Citizen Investment Trust with Rs 286.14 million, Neco Insurance with Rs 180.06 million and Himalayan Distillery with Rs 164.49 million.

In terms of weekly trading volume too, Shivam Cements was the forerunner with 9,107,000 of its shares changing hands. It was followed by Civil Bank with 817,000 shares, NIC Asia Bank with 595,000 shares, Global IME Bank with 479,000 shares and Api Power Company with 467,000 shares.

Meanwhile, Shivam Cements again topped in terms of number of transactions with 3,410 transactions.

It was followed by NIC Asia Bank with 2,058, Global IME Bank with 1,784, NMB Bank with 1,512, Prabhu Bank with 1,808 and Surya Life Insurance with 1,391 transactions.

The post Nepse index up by 10.90 points appeared first on The Himalayan Times.

Written by Madhavi Marasini
This news first appeared on https://thehimalayantimes.com/business/nepse-index-up-by-10-90-points/ under the title “Nepse index up by 10.90 points”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.