Nepse index up by 4.35 pts
KATHMANDU, APR 10:
Investors betted on shares on expectations of an improved economy following the budget announcement, pushing the Nepse index up by 4.35 points today.
Back on November 20, the Nepse index had shot past 500 points when the government announced the second installment of this fiscal year’s budget.
Investors had bought shares in expectation that an eventual consensus among the political parties will once again boost share prices, like in April 2012, following the integration of combatants.
Though the final installment of the budget will not contain any significant changes or new programmes, it is expected to recharge economic activities, thus improving the economy.
The index went up by 4.35 points to 519 points. It had been buoying between 515 points and 525 points since a month.
The banking index was the highest gainer and went up by 6.33 points as the share price of major commercial banks appreciated.
Nabil Bank earned Rs 50 and Everest Bank earned Rs 25, while Nepal Bank gained Rs 44 following the announcement of its rights issue.
Hydropower companies also registered a gain of 5.87 points, with Butwal Power Company, Arun Valley Hydropower and Chilime Hydropower earning Rs 10, Rs five and Rs three, respectively.
Nepal Telecom (NT) gained Rs four per unit share, pushing the others sub-group up by 4.7 points.
However, Bishal Bazaar Company’s loss of Rs 10 per unit prompted the trading sub-group to decline by 0.84 points. Likewise, Life Insurance Corporation Nepal and Nepal Life Insurance lost Rs 24 and Rs 17 per unit, respectively, and the insurance sub-group plunged by 4.44 points.
The biggest earner of the day was International Leasing and Finance Company whose share price increased by 5.17 per cent to Rs 122. Likewise, the biggest loser was Grand Bank Nepal’s Promoters Share that plunged by 9.76 per cent.
Due to increased share prices, market capitalisation of the stock exchange increased to Rs 504 billion.
Today, 358,788 unit shares worth Rs 78.5 million belonging to 89 companies were traded in 1154 transactions.
Source: THT
