Nepse down as political jitters weigh

- POST REPORT, Kathmandu
Nepse down as political jitters weigh

Dec 6, 2014-

Nepal Stock Exchange (Nepse) slid 3.12 points to close at 853.76 points last week. The market, which opened at 856.88 points on Sunday fell for the following two days, before recovering some losses in the last two trading days.

Stockbrokers attributed the fall to the lack of consensus among political parties over the constitution, although the parties agreed to send documents to the Constituent Assembly through Political Dialogue and Consensus Committee towards the weekend.

“Unfavourable political situation in the first half of the week pulled down the index,” said Shalikram Adhikari, managing director of Sipla Securities. He said the market bounced back to some extent with the political consensus. Adhikari expressed hope the market could climb up in the future. “As the share parices are on the lower side, a segment of investors are placing buying orders in recent days.”

The sub-indices of five trading groups plunged last week. Insurance Companies (down 81.27 points) was the top loser, followed by hydropower companies, finance companies, development banks and hotels.

The manufacturing group (up 6.36 points) led the gainers’ side consisting of commercial banks and others. The trading group was stable at 185.17 points. The sensitive index fell 0.02 points to close at 183.12 points.     

Nepal Life Insurance posted the highest individual transaction of Rs 47.1 million. Chilime Hydropower Company, Everest Bank, National Life Insurance and Life Insurance Corporation Nepal rounded out the top five. Nabil Balance Fund topped in terms of the number of shares traded (251,000 units). Despite fall in the benchmark index, the overall market transaction rose 25.08 percent to Rs 791.7 million. The number of shares traded too increased to 2,032,530 from 1,442,190 units. Meanwhile, 24,994,782 ordinary shares of Nepal Bank, and 892,692 and 100,000 right shares of Alliance Insurance Company and Civic Development Bank, respectively, were listed on the exchange last week.

TOP FIVE COMPANIES IN TERMS OF TURNOVER

Company    Turnover (in Rs millions)

Nepal Life Insurance     47.1

Chilime Hydropower Co    46.44

Everest Bank    33.8

National Life Insurance    29.89

Life Insurance Corporation Nepal    29.55

SECTORS THAT WENT went up

Sector    Points Gained

Manufacturing    6.36

Commercial Banks    1.39

Others     1.18

SECTORS THAT WENT went down

Sector    Points Gained

Insurance Companies    81.27

Hydropower Companies     21.45

Finance Companies    7.53

Development Banks    3.11

Hotels    0.55

 

Published: 07-12-2014 09:33

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