Nepse witnesses more listings

KATHMANDU, JULY 8: 

The stock market witnessed the listing of 22 million units of shares belonging to eight financial institutions in the past week –– July 1 to 5 ––, while the stock index remained almost immobile during the week. 

Janata Bank Nepal has become the 26th commercial bank to be listed at stock exchange with listing of its 20 million units of ordinary shares. Its shares will be traded from Sunday.

Likewise, 2.3 million units of rights shares belonging to Nirdhan Bikas Bank and Kasthamandap Development Bank were also listed along with bonus shares belonging to eight financial institutions. 

The benchmark index lost 0.09 points in the week’s trading. However, transaction volume has increased by 76.24 per cent due to bulk transactions of Everest Bank and Laxmi Bank. The stock exchange witnessed trading worth Rs 305.1 million of more than 578,864 unit shares belonging to 114 companies in 5176 transactions. 

The volume of trading of blue chip stocks belonging to class ‘A’ companies consisted of 78.68 per cent of the total transaction worth Rs 248.5 million. The sensitive index went down by 

a nominal 0.05 points. However, the float index went up by 0.08 points to 29.94 points.

The market, that opened at 377.48 points on Sunday afternoon, declined to 374.51 points by the end of trading that day. The next day, the index went down further to 372.92 points but from then onwards the 

index picked itself up and inched up for the next two days reaching 377.39 points, at the end of the week. 

All the subgroups have recorded gains in the week’s transaction except for others and development banks that ended up in the red by losing 5.87 points and 1.22 points, respectively. This week, insurance companies became the biggest gainer with a gain of 6.45 points. 

Hotels earned 4.29 points, closely followed by the hydropower subgroup which gained 4.09 points. Both banks and finance companies also earned a nominal 0.8 points each in the week’s trading. 

This week, Laxmi Bank topped the charts in the highest transaction volume and number of shares traded with a trading of 248,311 unit shares worth Rs 72.8 million. Everest Bank was the forerunner in terms of the highest number of transactions with 402 transactions. 

The top five performers of the week were Laxmi Bank (Rs 72.77 million), Everest Bank (Rs 48.85 million), Chilime Hydropower (Rs 20.07 million), Bank of Kathmandu (Rs 23.19 million) and Standard Chartered Bank (Rs 22.52 million).

Source: THT