Nepse up 25 pts on statute progress

- Post Report, Kathmandu

Aug 15, 2015-

Nepal Stock Exchange (Nepse) last week jumped 25 points to close at six-year high of 1,088.42 points.

The market that opened at 1,063.41 on Sunday rose 17.95 points on Monday. However, it lost points for the next two trading days before jumping 11.23 on Thursday.

Stockbrokers attributed the rise to political consensus on the constitution and the Monetary Policy 2015-16 that has hiked the paid-up capital requirements for financial institutions.

Dharma Raj Sapkota, managing director of Swornalaxmi Securities, said the buying pressure was notably high as investors expected the financial institutions would issue bonus and right’s shares to meet the increased capital requirements.

Rudra Prasad Sharma, chairman of Asian Securities, said the market also saw many new investors. “High liquidity with banks, political consensus and the monetary policy fuelled the market growth,” he said.

Of the nine trading groups, six posted witnessed gains. The manufacturing group jumped 91.63 points to lead the gainers’ side. It was followed by insurance companies, commercial banks, hotels, development banks and others.

Hydropower (down 16.83 points) was the top loser followed by finance companies. The index of trading remained stable at 212.92 points. The sensitive index that measures the performance of A class companies increased 6.29 points to close at 234.81 points. The overall market transaction rose 28.55 percent to Rs3.18 billion, while the number of shares traded increased to 5,564,460 units from 4,843,760.

NIC Asia Bank led in terms of both the transaction amount (Rs281.5 million) the number of traded shares (342,000 units). Everest Bank, Nepal Investment Bank (promoters’ share), Nepal SBI Bank and Nepal Bangladesh Bank rounded out the top five companies in terms of the individual turnover. Meanwhile, the Nepse listed bonus shares of Oriental Hotels and Professional Diyalo Bikas Bank. It also registered 600,000 units of debentures of Bank of Kathmandu.

TOP FIVE COMPANIES IN TERMS OF TURNOVER

Company    Turnover (in Rs millions)

NIC Asia Bank    281.57

Everest Bank    206.32

Nepal Investment Bank (Pro)    171.75

Nepal SBI Bank    141.76

Nepal Bangladesh Bank    138.63

SECTORS THAT WENT went up

Sector    Points Gained

Manufacturing    91.63

Insurance Companies    72.79

Commercial Banks    36.96

Hotels    10.52

Development Banks    1.46

Others    1.17

SECTORS THAT WENT went down

Sector    Points Gained

Hydropower Companies     16.83

Finance Companies    2.9

 

Published: 16-08-2015 10:37

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