Nepse up on bonus shares issuanceNepal Stock Exchange (Nepse) rose 18.65 points to close at 1,178.74 points last week.
Nepal Stock Exchange (Nepse) rose 18.65 points to close at 1,178.74 points last week.
In the four-trading-day week, the market that opened at 1,160.09 points on Monday surged for the following two days before losing 2.54 points on Thursday.
Sachin Silwal, managing director of Vision Securities, attributed the rise to the announcement of bonus shares by a number of companies. “Despite adverse political situation and undeclared blockade imposed by India, a number of banks announced good bonus and right shares this week, pushing up the demand,” said Silwal.
He said banks including Global IME, Bank of Kathmandu and Nepal Bangladesh Bank, among others, have offered bonus shares “beyond investors’ expectations”.
All the nine trading groups posted gains, with the hydropower group (up 25.95 points) topping the charts. It was followed by commercial banks, hotels, insurance companies, development banks and finance companies. The sensitive index that measures the performance of ‘A’ class companies rose 4.73 points to close at 255.62 points.
The overall transaction volume jumped 23.04 percent to Rs1.98 billion, while the number of shares traded rose to 3,075,010 units from 2,569,900. Everest Bank led in terms of the individual transaction amount (Rs274.61 million). Sanima Bank, Global IME, Bank of Kathmandu and Nepal Investment Bank (promoter’s shares) rounded out the top five. Global IME Bank topped in terms of the number of traded shares—194,000 units.
Meanwhile, Nepse listed bonus shares of Nirdhan Utthan Bank, Nepal Life Insurance and Premier Insurance. It also listed right shares of Sunrise Bank and Premier Insurance.