Short term investors boost Nepse
The sensitive index that measures the performance of Group ‘A’ firms also increased marginally by 0.35 points to close at 251 points with a notable rise in the sub-indices of the blue-chip firms
Jan 20, 2019-Nepal Stock Exchange (Nepse) last week inched up 6.92 points to close at 1,187.76 points, after investors rushed to purchase stocks of selected companies, hoping to score good dividend returns.
With the market inclining marginally, the average daily turnover rose to Rs370.40 million, up slightly compared to Rs369.25 million in the previous week.
The secondary market that opened at 1,180.84 points on Sunday slid 5.79 points to close at 1,175.05 points. On Monday and Tuesday, the market gained 2.98 points and 17.5 points respectively before moving down by 7.56 points and 0.21 points on the last two trading days.
In overall trading, the market increased marginally by 0.58 percent over the review period.
Stockbrokers attributed the slight rise in the Nepse to small investors who rushed to pick up shares of certain companies while the large investors avoided making transactions.
“Small investors who plan to make a quick buck, rushed to purchase shares of a number of companies such as Upper Tamakoshi, Nepal Bank Limited and Citizen Investment Trust. These companies are likely to offer good deal
of dividends,” said a stockbroker under condition of maintaining anonymity.
The sensitive index that measures the performance of Group ‘A’ companies also increased marginally by 0.35 points to close at 251 points with a notable rise in the sub-indices of majority of the blue-chip companies.
The average value of shares listed in the stock market also inclined Rs35.65 billion, as the market capitalisation grew to Rs1,448.63 billion from Rs1,412.98 billion in the previous week.
Except for commercial banks, the remaining 10 trading groups took an upward move. Hydropower gained the largest of 133.1 points and closed at 1,329.67 points. Nepse of life-insurance moved up 70.79 points, followed by microfinance (49.49 points), ‘others’ (24.2 points), development banks (14.68 points) and hotels (7.31 points). Likewise, non-life insurance gained 6.36 points, trading gained 6.25 points, finance companies gained 4.53 points, and manufacturing gained 1.99 points.
Commercial banks witnessed a fall of 10.38 points and was the only loser of the review period.
Of the individual companies, Nepal Bank Limited posted its shares transaction worth Rs295.89 million, the largest of all. It was followed by Citizen Investment Trust, NIC Asia Bank, Chhimek Laghubitta Bikas Bank and Nepal Life Insurance.
Last week, stocks worth Rs1.85 billion were transacted, which was 0.54 percent more than the transaction amount in the previous week while the total number of traded shares declined to 5,370,379 units from 6,667,164 units.
Published: 20-01-2019 07:26