Print Edition - 2015-01-11 | MONEY
Nepse jumps on consensus hopes
Jan 10, 2015-
Nepal Stock Exchange (Nepse) last week jumped 13.47 points to close at 930.97 points last week. The market, which opened at 917.5 points on Sunday, gained 2.27 points on Monday before losing 2.36 points on Tuesday. The index then jumped 7.13 points and 6.43 points, respectively, in the last two days.
Narendra Raj Sijapati, president of Nepal Stockbrokers’ Association, said expectations of a political consensus, with the Constituent Assembly allowing the Political Dialogue and Consensus Committee to work on consensus on contentious issues, boosted investor confidence. “Apart from politics, low bank rates on margin loans also fuelled the growth,” he said.
All the nine trading groups posted gains, with the insurance sub-index (up 103 points) topping the list. Other gainers were hotels, hydropower companies, manufacturing, development banks, others, commercial banks, finance companies, and trading.
The sensitive index that measures the performance of blue chips was up 2.44 points to close at 198.92 points.
Prabhu Bank posted the highest individual transaction of Rs 140 million. Nepal Life Insurance, National Life Insurance, Everest Bank and NB Insurance (promoters’ shares) rounded out the top five. With 646,000 units of its shares changing hands, NB Insurance (promoters’ shares) topped in terms of the number of shares traded. The overall market transaction jumped 33.88 percent to Rs 1.43 billion, while the number of traded shares increased to 4,510,930 units from 2,789,400 units.
Meanwhile, the exchange listed bonus shares of Citizens Bank International, Sagarmatha Merchant Banking and Finance and Mahakali Bikas Bank, and rights shares of Sagarmatha Merchant Banking and Finance and Innovative Development Bank.
TOP FIVE COMPANIES IN TERMS OF TURNOVER
Company Turnover (in Rs millions)
Prabhu Bank 140.06
Nepal Life Insurance 76.15
National Life Insurance 67.57
Everest Bank 65.81
NB Insurance (Promoters) 52.73
SECTORS THAT WENT went up
Sector Points Gained
Insurance Companies 103
Hydropower Companies 49.69
Development Banks 21.58
Commercial Banks 5.61
Finance Companies 3.94
Published: 11-01-2015 09:52