Turnover jumps amid political chaos

- POST REPORT, Kathmandu
Turnover jumps amid political chaos

Jan 24, 2015-

Turnover at Nepal Stock Exchange (Nepse) jumped by a notable 91.7 percent to Rs 1.88 billion last week. The number of shares traded  too rose to 3,766,830 units from 2,558,140 units.

Influenced largely by political developments, the week saw massive stock transactions. The market that opened at 945.36 points on Sunday jumped 30.09 points on Monday on political consensus hopes, but dwindled after the mess in the Constituent Assembly on Monday mid-night. The market lost 12.65 points on Tuesday and 3.56 points on Thursday to close the week at 959.24 points.

“Despite the political chaos, the market was supported by good second-quarter reports, low interest rates on margin loans and institutional buying,” said Raju Acharya, managing director of Asian Securities.

Of the nine trading groups, six posted gains. Hotels, up 54.11 points, was the top gainer. It was followed by hydropower companies, commercial banks, development banks, manufacturing and finance companies. Insurance companies were the sole loser, down 15.83 points. The indices of ‘others’ and ‘trading’ groups were stable at 746.02 points and 183.05 points, respectively.

The sensitive index that measures the performance of blue chips rose 3.49 points to 204.65 points.    

Standard Chartered Bank led in terms of transaction amount—Rs 463.12 million. It was followed by Prabhu Bank, Everest Bank, Nepal Bangladesh Bank and Grand Bank. Grand took the pole position in terms of the number of shares traded 402,000 units.  

TOP FIVE COMPANIES IN TERMS OF TURNOVER

Company                            Turnover (in Rs millions)

Standard Chartered Bank    463.12

Prabhu Bank                           108.52

Everest Bank                             73.25

Nepal Bangladesh Bank        67.9

Grand Bank                               65.03

SECTORS THAT WENT UP

Sector                         Points Gained

Hotels                                     54.11

Hydropower Companies     31.03

Commercial Banks             18.39

Development Banks            14.18

Manufacturing                        8.2

Finance Companies             3.83

SECTORS THAT WENT DOWN

Sector                              Points Gained

Insurance Companies         15.83

Published: 25-01-2015 11:06

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