Nepse up on institutional buying

- POST REPORT, Kathmandu
Nepse up on institutional buying

Jan 17, 2015-

Nepal Stock Exchange (Nepse) last week surged 11.2 points to close at 939.53 points amid increased investment from institutional investors.

The market, which opened at 928.33 points on Sunday, lost 0.53 points on Monday, before gaining 9.68 points and 2.05 points on Tuesday and Wednesday, respectively.  

Ananta Kumar Poudyal, managing director of Online Securities, said an increase in investment by mutual funds and insurance companies boosted the market.

Two months ago, the Insurance Board increased the limit for the insurance companies to invest in shares of banks and hydropower companies to 15 percent of their insurance funds from 10 percent.

Of the nine trading groups, six posted gains. The insurance sub-index, up 81.13 points, was the top gainer, followed by manufacturing, finance companies, ‘others’, development banks and commercial banks. Hotels, hydropower companies and trading were among the losers.

The sensitive index, which measures the performance of blue chips, rose 2.21 points to 200.09 points.

National Life Insurance posted the highest individual transaction of Rs 86.75 million.

It was followed by Nepal Life Insurance, Sanima Mai Hydropower, Citizen Investment Trust and Prabhu Bank. Prabhu Bank (promoters’ shares) topped in terms of the number of shares traded (228,000 units).

Despite the surge in the benchmark index, the market transaction declined 31.39 percent to Rs 986.3 million. The number of shares traded too decreased to 2,558,140 units from 4,510,930 units.

TOP FIVE COMPANIES IN TERMS OF TURNOVER

Company    Turnover (in Rs millions)

National Life Insurance    Rs 86.75 million

Nepal Life Insurance     Rs  53.4 million

Sanima Mai Hydropower    Rs  42.88 million

Citizen Investment Trust    Rs  34.19 million

Prabhu Bank    Rs  34.15 million

 

SECTORS THAT WENT went up

Sector    Points Gained

Insurance Companies    81.13

Manufacturing    70.44

Finance Companies    26.7

Others    23.49

Development Banks    12.64

Commercial Banks    2.58

SECTORS THAT WENT went down

Sector    Points Gained

Hotels    15.67

Hydropower Companies     12.05

Trading    2.03

Published: 18-01-2015 11:12

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