Fiscal year-end sees buoyant market
KATHMANDU, July 3:
After last weeks rally, the secondary market tried to remain afloat due to fiscal year end.
“Around the end of the fiscal year, investors invest on shares keeping long term gains in mind for dividend,” general secretary Nepal Stock Investors’ Association Prakash Rajoria said, hoping that the market to move up further.
Last week’s rally — as suspected by the stakeholders — could not sustain as in the first two days the market plunged by almost 35 points. However, the analysts have dubbed the last two days’ recovery of the stock market as sustainable.
This week — June 26 to July 1 — the secondary market could not sustain last week’s rally as the investors started to cash in on the surging prices to liquidate their stocks due to fear-factor of loosing. Nepse lost 27.72 points on the week’s trading after going through one of the never-seen-before surges in the history of capital market on preceding week when the market went off the roof by 60.9 points.
The market opened at 364.4 points but went down to 346.77 points by the closing time on the first day of trading. It dropped the next day too, to 330.76 points. However, it started to look up on Tuesday and closed at 332.92 points by the closing time. On Thursday the secondary market gained and closed at 336.68 points to close trading of the week that saw only four days trading this week.
The market observed 512,726 unit shares of 103 companies worth Rs 126.2 million being changing hands through 3,716 transactions, which is 23.78 per cent decline compared to a week ago’s trading.
The sensitive index — measuring the performance of Class ‘A’ companies — went down by 7.77 points to close at 82.94 points, whereas trading of class ‘A’ companies shares consisted of 69.45 per cent amounting to Rs 87.6 million. Similarly, the float index — that indicates performance of actual shares traded throughout the week — saw decline of 2.73 points to close at 28.03 points this week.
Groupwise, hydropower subgroup plunged by 60.63 points as Arun Valley Hydropower and Chilime Hydropower’s share prices lost Rs 40 and Rs 185 per unit, respectively. NT share price also dipped by Rs 32 per unit pulling others subgroup by 37.59 points, whereas commercial banks subgroup lost 36.87 points.
Development banks, finance companies and insurance companies also went down by 5.81 points, 1.05 points and 3.67 points.
Bottlers’ Nepal Balaju gained Rs 409 on a unit share pushing manufacturing subgroup up by 44.92 points. Hotels subgroup also went up by 3.39 points as Soaltee Hotel saw its price increase by Rs 3 per unit. Bank of Kathmandu topped the charts in terms of transaction amount and number of transaction with the transaction of Rs 32.5 million with 308 transactions. In terms of numbers of shares traded NCM Mutual Fund was the front runner with 133,010 unit shares being traded.
Bank of Kathmandu (Rs 22.42 million), Standard Chartered Bank Nepal (Rs 13.60 million), Nabil Bank (Rs 9.42 million), Prime Commercial Bank (Rs 7.45 million) and NIC Bank (Rs 6.89 million) are the top five performers of the week.
Nepse listed Purnima Bikas Bank’s ordinary and Nerude Laghubitta Bikas Bank and Bhrikuti Development Bank’s right shares.
Source: THT
After last weeks rally, the secondary market tried to remain afloat due to fiscal year end.
“Around the end of the fiscal year, investors invest on shares keeping long term gains in mind for dividend,” general secretary Nepal Stock Investors’ Association Prakash Rajoria said, hoping that the market to move up further.
Last week’s rally — as suspected by the stakeholders — could not sustain as in the first two days the market plunged by almost 35 points. However, the analysts have dubbed the last two days’ recovery of the stock market as sustainable.
This week — June 26 to July 1 — the secondary market could not sustain last week’s rally as the investors started to cash in on the surging prices to liquidate their stocks due to fear-factor of loosing. Nepse lost 27.72 points on the week’s trading after going through one of the never-seen-before surges in the history of capital market on preceding week when the market went off the roof by 60.9 points.
The market opened at 364.4 points but went down to 346.77 points by the closing time on the first day of trading. It dropped the next day too, to 330.76 points. However, it started to look up on Tuesday and closed at 332.92 points by the closing time. On Thursday the secondary market gained and closed at 336.68 points to close trading of the week that saw only four days trading this week.
The market observed 512,726 unit shares of 103 companies worth Rs 126.2 million being changing hands through 3,716 transactions, which is 23.78 per cent decline compared to a week ago’s trading.
The sensitive index — measuring the performance of Class ‘A’ companies — went down by 7.77 points to close at 82.94 points, whereas trading of class ‘A’ companies shares consisted of 69.45 per cent amounting to Rs 87.6 million. Similarly, the float index — that indicates performance of actual shares traded throughout the week — saw decline of 2.73 points to close at 28.03 points this week.
Groupwise, hydropower subgroup plunged by 60.63 points as Arun Valley Hydropower and Chilime Hydropower’s share prices lost Rs 40 and Rs 185 per unit, respectively. NT share price also dipped by Rs 32 per unit pulling others subgroup by 37.59 points, whereas commercial banks subgroup lost 36.87 points.
Development banks, finance companies and insurance companies also went down by 5.81 points, 1.05 points and 3.67 points.
Bottlers’ Nepal Balaju gained Rs 409 on a unit share pushing manufacturing subgroup up by 44.92 points. Hotels subgroup also went up by 3.39 points as Soaltee Hotel saw its price increase by Rs 3 per unit. Bank of Kathmandu topped the charts in terms of transaction amount and number of transaction with the transaction of Rs 32.5 million with 308 transactions. In terms of numbers of shares traded NCM Mutual Fund was the front runner with 133,010 unit shares being traded.
Bank of Kathmandu (Rs 22.42 million), Standard Chartered Bank Nepal (Rs 13.60 million), Nabil Bank (Rs 9.42 million), Prime Commercial Bank (Rs 7.45 million) and NIC Bank (Rs 6.89 million) are the top five performers of the week.
Nepse listed Purnima Bikas Bank’s ordinary and Nerude Laghubitta Bikas Bank and Bhrikuti Development Bank’s right shares.
Source: THT
