Nepal Telecom pulls index to another record low
KATHMANDU, April 28:
Nepal Telecom Company (NTC) has pulled the secondary market index to yet another record low of 351.96 points in toady’s trading. This is the lowest that the Nepse index has reached in six years.
The telecommunication company lost Rs 36 on a unit share. The loss of NTC stocks pulled the whole index down by 6.06 points and the others subgroup by whopping 29.36 points.
After the market plunged below psychological 400 points in December last year, the market analysts have considered 350 points as the new benchmark. The market is rapidly approaching that point.
Since the secondary market index had gone below 400 points, the index has been hovering over 400 points. In the first week of January also the index had gone below 400 points after a week long recovery from the slump. Since December, the market has dipped to as low as 390 points and have surged to as high as 413, else been bouncing from 400 points to 410 points. However, from March the index has steadily going down except for few unexpected surges as that of April 13.
Along with Nepse index, both sensitive and float index also went down by 1.8 points and 0.12 points, respectively. On the day’s trading only commercial bank subgroup and manufacturing subgroup were able to earn few points while rest ended up in the red zone.
Bottlers Nepal (Terai)’s stocks surged by Rs 30 per unit so that the manufacturing subgroup registered the gains of 2.05 points. Commercial banks subgroup also earned 0.47 points avoiding the entry to losers’ pack. Other subgroups representing financial intermediaries such as development banks, finance companies and insurance companies also went down by meagre 1.29 points, 0.55 points and 0.6 points.
The hydropower subgroup also lost 3.99 points as both major players Arun Valley Hydropower and Chilime Hydropower’s stock prices went down.
Despite the one-day bandh called by Newa-Tamasaling Joint Struggle Committee, the market’s activities were not affected as 84,077 units of shares worth Rs 18.5 million of 82 companies were traded through 2,662 transactions, which is the usual amount of transaction that the stock market observes in a trading day.
Source: THT
Nepal Telecom Company (NTC) has pulled the secondary market index to yet another record low of 351.96 points in toady’s trading. This is the lowest that the Nepse index has reached in six years.
The telecommunication company lost Rs 36 on a unit share. The loss of NTC stocks pulled the whole index down by 6.06 points and the others subgroup by whopping 29.36 points.
After the market plunged below psychological 400 points in December last year, the market analysts have considered 350 points as the new benchmark. The market is rapidly approaching that point.
Since the secondary market index had gone below 400 points, the index has been hovering over 400 points. In the first week of January also the index had gone below 400 points after a week long recovery from the slump. Since December, the market has dipped to as low as 390 points and have surged to as high as 413, else been bouncing from 400 points to 410 points. However, from March the index has steadily going down except for few unexpected surges as that of April 13.
Along with Nepse index, both sensitive and float index also went down by 1.8 points and 0.12 points, respectively. On the day’s trading only commercial bank subgroup and manufacturing subgroup were able to earn few points while rest ended up in the red zone.
Bottlers Nepal (Terai)’s stocks surged by Rs 30 per unit so that the manufacturing subgroup registered the gains of 2.05 points. Commercial banks subgroup also earned 0.47 points avoiding the entry to losers’ pack. Other subgroups representing financial intermediaries such as development banks, finance companies and insurance companies also went down by meagre 1.29 points, 0.55 points and 0.6 points.
The hydropower subgroup also lost 3.99 points as both major players Arun Valley Hydropower and Chilime Hydropower’s stock prices went down.
Despite the one-day bandh called by Newa-Tamasaling Joint Struggle Committee, the market’s activities were not affected as 84,077 units of shares worth Rs 18.5 million of 82 companies were traded through 2,662 transactions, which is the usual amount of transaction that the stock market observes in a trading day.
Source: THT
