Nepse up 19.75 pts on statute hopes

- POST REPORT, Kathmandu
Nepse up 19.75 pts on statute hopes

Dec 13, 2014-

Nepal Stock Exchange (Nepse) rose 19.75 points to close at 870.63 points last week on growing optimism about political consensus on constitution-related issues. The market, which opened at 850.88 points on Sunday, fell 2.47 points on Monday, but rose for rest of the trading days.

Bishnu Raj Ojha, managing director of Dipshikha Dhitopatra Karobar Company, attributed the growth to increased investor confidence due to a “favorable” political development.

“Political consensus among the parties on constitution issues boosted investor confidence. Investors, who were in a wait-and-see mode, have started investing.”

The hydropower group (up 52.92 points) was last week’s top gainer, followed by hotels, commercial banks, manufacturing, ‘others’, finance companies and development banks. Insurance companies were the lone loser (down 12.94 points). The trading group remained stable at 185.17 points. The sensitive index, which measures the performance of blue chips, rose 4.39 points to 186.73 points.

Soaltee Hotel posted the highest individual transaction of Rs 60.28 million. It was followed by Nepal Life Insurance, Chilime Hydropower Company, National Life Insurance and NIC Asia Bank. Siddhartha Investment Growth Plan led in terms of the number of shares traded (262,000 units).

The overall market transaction rose 1.33 percent to Rs 802.1 million last week, while the number of traded shares were up to 2,217,990 from 2,032,530.

SECTORS THAT WENT went up

Sector    Points Gained

Hydropower Companies     52.92

Hotels    31.22

Commercial Banks    28.67

Manufacturing    20.95

Others     8.22

Finance Companies    3.36

Development Banks    0.09

SECTORS THAT WENT went down

Sector    Points Gained

Insurance Companies    12.94

Soaltee Hotel     60.28

Nepal Life Insurance     57.4

Chilime Hydropower Company    45.52

National Life Insurance    31.12

NIC Asia Bank    28.54

Published: 14-12-2014 09:55

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