Print Edition - 2014-08-24 | MONEY
Turnover up as Nepse falls below 1,000
Aug 23, 2014-
Nepal Stock Exchange (Nepse) transactions rose by an impressive 89.02 percent to more than Rs 2.17 billion last week, although the index fell below the 1,000-point mark. The number of shares traded also rose to 3,980,510 from 2,187,870 over the week.
Despite the significant rise in the market turnover, the Nepse index fell 15.12 points to close at 998.13 points.
“With the Nepal Rastra Bank directing banks and financial institutions (BFIs) to lower their investment in shares to 1 percent of their core capital, the market saw downswing,” said Sachin Silwal, managing director of Vision Securities.
The market that opened at 1013.25 on Monday, inched up marginally on Tuesday, before dropping 17.91on Wednesday, thanks to the central bank directive. However, the market recovered 2.42 points on Thursday, with the possibility of the central bank rethinking its directive.
Of the nine trading groups, six dropped points. Hydropower and insurance companies posted double digit losses of 202.71 and 165.49 points, respectively. They were followed by hotels, development banks, others and finance companies.
Indices of two groups—manufacturing and commercial banks—gained 2.18 and 0.28 points, respectively. The trading sub-index remained stable at 188.42 points.
The sensitive index that measures the performance of blue chips also declined 3.37 points to close at 213.39 points.
Chilime Hydropower Company posted highest individual transaction of Rs 291.73 million. It was followed by Global IME Bank, NCC Bank, Arun Valley Hydropower Development Company and Kumari Bank. With 419,000 units of its shares changing hands, Nabil Balance Fund topped in terms of the number of shares traded.
TOP FIVE COMPANIES IN TERMS OF TURNOVER
Company Turnover (in Rs millions)
Chilime Hydropower 291.73
Global IME Bank 87.06
NCC Bank 86.86
Arun Valley Hydropower 84.59
Kumari Bank 81.59
SECTORS THAT WENT up
SECTORS THAT WENT up
Commercial Banks 0.28
SECTORS THAT WENT down
Sector Points Gained
Hydropower Companies 202.71
Insurance Companies 165.49
Development Banks 18.75
Finance Companies 1.75
Published: 24-08-2014 09:36