Nepse ends week 32.24 pts higherNepal Stock Exchange (Nepse) last week jumped 32.24 points to close at yet another record high of 1,441.67 points. The transaction volume too surged 92.97 points.
Nepal Stock Exchange (Nepse) last week jumped 32.24 points to close at yet another record high of 1,441.67 points. The transaction volume too surged 92.97 points.
The market that opened at 1,409.43 points on Sunday posted gains throughout the week. The week’s biggest gain came on Monday when the benchmark index rose 19.17 points.
The overall market transaction almost doubled to Rs4.37 billion from the previous week’s Rs2.26 billion, while the number of shares traded jumped to 7,426,540 units from 4,472,840.
Stockbrokers attributed the rise to growing investor attraction towards commercial bank shares.
Nitesh Kumar Agrawal, managing director of ABC Securities, said the demand for commercial bank shares jumped, with the banks processing new loans with the start of the New Nepali Year. “Besides, the refunding of the money investors had put in the follow-on public offer of Nepal Investment Bank Limited contributed to the rise in the demand,” he said.
Niraj Maharjan, managing director of Midas Stock Broking, said investors’ attraction towards bank stocks is fuelled by expectations of good third-quarter results. He said financial results of Citizens Bank International and Sanima Bank have shown an increase in their profits by 30-35 percent.
Of the nine trading groups, six posted gains. The insurance group (up 149.11 points) led the gainers’ side including hotels, manufacturing, commercial banks, development banks and finance companies. Hydropower and others shed 16.61 points and 12.92 points, respectively. The trading group was stable at 201.38 points.
The sensitive index that measures the performance of ‘A’ class companies rose 7.67 points to close at 312.18 points.
Everest Bank posted the highest individual transaction of Rs336.2 million. It was followed by Citizens Bank International, Standard Chartered Bank, Nepal Bangladesh Bank and Nepal Investment Bank.
Siddhartha Investment Growth Scheme 1 topped in terms of the number of shares traded (717,000 units). Meanwhile, the exchange listed bonus shares of Everest Finance, Sahayogi Bikas Bank and Tourism Development Bank during the review period.