Print Edition - 2014-06-29 | MONEY
Nepse jumps 19 points; insurers lead
Jun 28, 2014-
Nepal Stock Exchange last week jumped 19 points to close at 936.31 points. The secondary market had opened at 917.58 points on Monday. The market posted gains throughout the week, with the highest single-day gain seen on Wednesday when the benchmark index rose 8.64 points.
The growth has been attributed to rising investors’ attraction towards insurance, commercial banks and hydropower companies. “With investors’ expectation that insurance companies will increase their paid-up capital, the group’s index reached new high,” said Narendra Raj Sijapati, president of Nepal Stockbrokers’ Association.
Insurance companies posted a solid three-digit gain of 137.34 points last week, it was followed by hydropower companies (up 70.72 points), and commercial banks (18 points).
“Investors looking to diversify their portfolio still consider hydropower as one of the best alternatives to invest. This has sent the sub-index soaring,” said Sijapati, adding the significant gains in the sub-indices of insurance, commercial banks and hydropower companies pushed the overall market up.
Of the nine trading groups, seven registered gains. Besides, hydropower companies, insurance companies and commercial banks, other gainers were hotels, development banks, ‘others’ and trading groups. Manufacturing and finance companies, however, lost 12.54 points and 6.04 points, respectively. The sensitive index, which measures the performance of ‘A’ class companies, inched up 3.59 points to close at 200.9 points.
Nepal Bank topped in terms of the transaction worth (Rs 153.301 million). Chilime Hydropower Company, Nepal Bangladesh Bank, National Hydropower Company and Citizen Investment Trust rounded out the top five. With 2,834,735 units of its shares changing hands, Nabil Balance Fund topped in terms of the number of shares traded.
Despite the rise in Nepse index, the transaction fell 22.61 percent to Rs 2.19 billion. The number of traded shares, however, increased to 12,475,670 from 7,787,832. Nepse held transaction worth Rs 740.06 million of ‘A’ class companies, 33.79 percent of the total market transaction.
Published: 29-06-2014 09:12