Nepse down for third straight day
KATHMANDU, NOV 29 -
The Nepal Stock Exchange (Nepse) posted loss for the third day in a row. On Wednesday, the Nepse index shed 0.33 points to close at 492.83 points.
The market, which was heading nearer to the 490-point mark earlier in the day, recovered some loss on the surge in the banking index in the last trading hours.
Despite, the benchmark index losing points for the last three days, there has been a sizeable turnover on the exchange. On Wednesday, Nepse realised a turnover of over Rs 90 million.
Except the banking sub-index, all other sub-indices suffered a decline. The banking sub-index, which has played a vital role in the recent surge of Nepse, was the sole gainer with 1.12 points. The rise in the price of Nepal SBI Bank Limited, Global IME Bank and Nabil Bank stocks helped the sector post gains.
The hydropower sector was Wednesday’s biggest loser, down 4.09 points. Share prices of all three hydropower companies — Arun Valley, Butwal Power and Chilime — declined. Likewise, seven insurance companies among 10 suffered loss.
A total of 80 companies’ shares were traded on Nepse on Wednesday, with 25 companies registering gains, 43 facing loss and 12 remaining intact.
The highest gainer of the day was Excel Development Bank, whose share price increased by 7.94 percent, followed by Shikhar Insurance, Swabalamwan Bikas Bank, Valley Finance and Global IME Bank. The announcement by Excel Development Bank to distribute 10 percent cash dividend and 30 percent bonus shares to its shareholders helped it post Rs-25 gain.
Likewise, the biggest loser was Tourism Development Bank, down 7.46 percent, followed by Surya Life Insurance, International Leasing and Finance Company and Nerude Laghu Bitta Bikas Bank.
Nepal Investment Bank topped the chart in terms of turnover with trading of 18,537 shares worth Rs 15.4 millions. Nepal Bangladesh Bank had the most number of traded on Wednesday.
