Stock market inches up 3.3 pointsNepal Stock Exchange (Nepse) inched up 3.3 points to close at 1,164.14 points last week.
Nepal Stock Exchange (Nepse) inched up 3.3 points to close at 1,164.14 points last week.
The market that opened at 1,160.84 points on Sunday fell for the following two days before recovering in the last two trading days. Tuesday saw the week’s biggest fall (7.85 points), while the largest gain (14.25 points) came on Thursday.
Anjan Raj Poudyal, managing
director of Thrive Brokerage, said
the market was heading towards
stability. “As the market has been supported by good turnover, the price adjustment shows positive indication,” he said.
Raju Acharya, managing director of Asian Securities, said positive political developments helped the market to grow.
Of the nine trading groups, five posted gains. The Hydropower group
(up 68.89 points) was the top gainer, followed by Others, Manufacturing, Commercial Banks and Hotels. The group representing insurance companies (down 196.12 points) topped the losers’ side including trading, development banks and finance companies.
The sensitive index that measures the performance of blue chip companies was up 2.17points to close at 250.02.
The overall market transaction jumped 38.91 percent to Rs2.54 billion, while the number of shares traded rose to 4,053,380 units from 3,909,370.
Acharya said the increase in the transaction volume could be due to investors rushing to pay bank loans by offloading shares as the end of the second quarter approaches.
NIC Asia Bank posted the highest individual transaction of Rs291.04 million. It was followed by National Life Insurance, Himalayan General Insurance, Prime Life Insurance and Premier Insurance. National Hydropower led in terms of the number of shares traded (363,000 units).
Meanwhile, the secondary market listed right’s shares of United Insurance and Purnima Bikas Bank. It also registered bonus shares of Purnima Bikas Bank and Sagarmatha Insurance, and debenture bonds of Everest Bank.