Peace process lifts Nepse 15.56 points
KATHMANDU, NOV 6:
The prospect of favourable times following political consensus on peace process gave the stock market new lease of life lifting the benchmark index by 15.56 points, this week– October 30 to November 3.
On Sunday morning the stock market opened at 327.99 points that went a down to 327.70 points by the end of the day’s trading. The index surged to 346.82 points on Tuesday -the day after resolution among the parties. The market could not sustain the climb on the last trading day as the index went south to 343.55 points.
However, the stakeholders have suggested the investors to wait and watch before jumping to conclusion that market has shaken off bearish trend “If the increment continues for few more days then only rally can be considered to sustain,” said Anjan Raj Poudel, president of Stock Brokers Association of Nepal (SBAN).
This week Nepse witnessed 699,124 unit shares amounting to Rs 118.2 million of 109 companies being traded through 4758 transactions in four trading days. This is 29 per cent reduction in trading volume as compared to that of last week when the market had witnessed transaction worth more than Rs 84 million. Among the total transactions, the trading of blue chip stocks belonging to class ‘A’ companies consisted of 40.94 per cent amounting to Rs 48.4 million. The sensitive index that measures performance of Class ‘A’ companies went up by 4.93 points reaching 84.95 points on the week’s trading. The float index that indicates the performance of the actual shares traded throughout the week moved up by 1.03 points to 21.97 points.
This week, all of the subgroups registered gain. The highest earner of the week was others subgroup with the gain of 25.84 points while banking subgroup came in second with gains of 21.23 points. Progressive Finance was forerunner both in terms of transaction amount and number of shares traded with trading of 163,180 unit shares worth Rs 18.66 million. Gurans Life Insurance was forerunner with 829 transactions.
The top five performers of the week are Progressive Finance (Rs 18.66 million), Chilime Hydropower (Rs 9.72 million), Bank of Kathmandu (Rs 9.71 million), Himalayan Bank (Rs 6.75 million), and NMB Bank (Rs 6.30 million).
