Stock market jumps 28.81 points

- POST REPORT, Kathmandu
Stock market jumps 28.81 points

Sep 27, 2014-

Nepal Stock Exchange (Nepse) jumped 28.81 points to close at 912.32 points last week. The turnover, however, fell 16.53 percent to Rs 1.55 billion.

The market opened at 883.51 points on Sunday, slipped 1.64 points on Monday, before gaining 14.14 points and 16.31 points in the following two days, respectively.

Bhakta Ram Ghimire, managing director of Imperial Securities, said a boost in investor confidence helped the market grow. “Expectations the market would rebound following a drop of around 200 points in the past few weeks punished the secondary market up.”

Of the nine trading groups, six observed gains. The insurance group gained 157.73, followed by hydropower companies, hotels, commercial banks, development banks and finance companies.

The indices of ‘others’ and manufacturing sub-groups dwindled, while trading remained stable at 186.81 points. The sensitive index that measures the performance of blue chips increased 6.29 points to close at 196.2 points.

The market turnover, however, declined to Rs 1.55 billion from

Rs 1.86 billion. The number

of traded shares also fell to 3,571,110 from 4,186,160 units over the period.

Nepal Investment Bank (promoters’ shares) led in terms of both turnover and the number of traded shares. It witnessed turnover of Rs 421.31 million from the trading of 789,000 shares.

Meanwhile, Nepse listed bonus shares of Lumbini General Insurance and National Life Insurance, and 349,594 ordinary shares of Global IME Bank.

TOP FIVE COMPANIES IN TERMS OF TURNOVER

Company    Turnover (in Rs millions)

Nepal Investment Bank (Pro)    421.31

Chilime Hydropower Co    160.93

Global IME Bank    123.76

Kumari Bank    74.01

Global IME Bank (Pro)    51.08

SECTORS THAT WENT up

Sector    Points Gained

Insurance Companies    157.73

Hydropower Companies     91.94

Hotels    45.67

Commercial Banks    35.69

Development Banks    3.5

Finance Companies    2.7

SECTORS THAT WENT down

Sector    Points Gained

Others    4.7

Manufacturing    0.28

Published: 28-09-2014 10:22

User's Feedback

Click here for your comments

Comment via Facebook

Don't have facebook account? Use this form to comment