Print Edition - 2014-12-28 | MONEY
Nepse slides on political uncertainty
Dec 27, 2014-
The Nepal Stock Exchange (Nepse) slid 8.81 points to close at 887.8 points last week.
The market that opened at 896.61 points on Sunday dropped 11.17 points and 8.23 points successively on Monday and Tuesday, before gaining 10.59 points on Wednesday--the last trading day of the week.
Stockbrokers said the investors are now in ‘wait and watch’ position on the recent political uncertainty leading to the downswing in the capital market.
Bhakta Ram Ghimire, managing director of Imperial Securities Company, has blamed the political uncertainty and continued confusion over paperless share certificates for the recent volatility in the share market.
Indices of almost all the trading groups are currently in downward swing. With a fall of 88.11 points, hotels were the worst performers, followed insurance companies, hydropower, manufacturing, finance companies, ‘others’, commercial banks and development banks. Amid the tupsy-turvy tradings on Nepse, trading group, however, remained stable at 181.96 points over the week. Along with the overall Nepse index, the sensitive index that reflects the performance of blue chips companies also fell 1.95 points to close at 190.57 points. Prime Commercial Bank was the best performer among individual companies, leading both in terms of transaction amount and number of shares units. The company witnessed 86,000 of its shares change hands in transaction worth
Rs44.49 million. NCC Bank, Chilime Hydropower, Nepal Life Insurance and Swabalamban Development Bank were other good performers in terms of transaction amount.
The transaction volume, however, fell almost by half during the review period that saw a transaction of Rs 623.6 million, down 45.44 percent from the previous week. The number of traded shares also fell to 1,420,490 units from 3,229,960. Nepse listed right shares of Tinau Development Bank and bonus shares of Gandaki Development Bank and Lumbini Finance and Leasing Company last week.
TOP FIVE COMPANIES IN TERMS OF TURNOVER
Company Turnover (in Rs millions)
Prime Commercial Bank 44.49
NCC Bank 41.1
Chilime Hydropower Company 37.39
Nepal Life Insurance 29.95
Swabalamban Development Bank 29.7
SECTORS THAT WENT went down
Sector Points Gained
Insurance Companies 46.55
Hydropower Companies 18.68
Finance Companies 9.33
Commercial Banks 6.05
Development Banks 0.75
Published: 28-12-2014 10:35