Stock market inches 2.02 points upNepal Stock Exchange (Nepse) last week inched up 2.02 points to close at 1,168.71 points.
Nepal Stock Exchange (Nepse) last week inched up 2.02 points to close at 1,168.71 points.
The market, which opened at 1,166.69 points on Monday, posted gains for the following two days before losing points in the last two trading days.
Narendra Raj Sijapati, president of Nepal Stockbrokers’ Association, said investors were in a “wait-and-see” mode. “Some are awaiting possible dividends, while others are waiting for the political situation to normalise,” he said.
Of the nine trading groups, four posted gains. The manufacturing group (up 13.44 points) led the gainers’ side including commercial banks, development banks and finance companies.
The insurance group (down 122.07 points) was the top loser, followed by hotels, hydropower companies and others.
The trading group was stable at 206.99 points. Sijapati said rumours about a possible revision in the paid-up capital requirements for insurance companies pushed the sector down. The sensitive index that measures the performance of ‘A’ class companies was up 1.24 points to 252.25 points. The market turnover dipped 13.85 percent Rs2.17 billion. The number of traded shares, however, rose to 5,462,840 units from 4,052,570.
Nabil Bank (promoters’ shares) posted the largest individual transaction of Rs169.27 million. It was followed by Nepal Investment Bank (promoters’ shares), Everest Bank, NIC Asia Bank and National Life Insurance. Siddhartha Investment Growth Scheme 1 topped in terms of the number of traded shares (1,411,000 units.
Meanwhile, the exchange listed bonus shares of seven companies—National Life Insurance, Tourism Development Bank, Sahayogi Bikas Bank, NMB Bank, Jebils Finance, Salt Trading Corporation and Asian Life Insurance Company. Also, 14,612 right shares of Asian Life Insurance Company were listed.