KATHMANDU, OCT 18, 2013
After four years, the Nepal Stock Exchange index today crossed 570-point mark, as investors remained optimistic about the country’s political and business climate.
The stock market index gained more than 4.81 points to end at 571.8 points on the first trading day after Dashain holidays.
The hopes regarding political stability following the November CA elections and prospects of attractive dividends have been fuelling investors’ confidence for the last couple of weeks.
Nepse index had reached this level in November 11, 2009. After that the benchmark index started moving below 500-point mark till April 2012.
However, the index reached the height of 555.73 points on February 17 after talks on formation of a new government yielded positive results. But the benchmark index fell the very next day.
Then in May the benchmark index slumped to below 500-point mark as investors went on a selling spree after capital market regulator allowed promoters of financial institutions to convert promoters’ shares through stock market. It took more than 15 days for investors to get assured that market will not be flooded with promoters’ shares.
But in August and in mid-September, the benchmark index crossed 550-point mark, but it could not stay there for more than two days.
Today, hydropower subgroup was the biggest gainer with Chilime Hydropower, Butwal Power Company and Arun Valley Hydropower earning Rs 10, Rs six and Rs five per unit share, respectively.
Nepal Telecom’s share price went up by Rs six per unit which pushed the subgroup index up by seven points. Banking and insurance subgroups also registered gains in today’s trading.
Union Finance Company was the biggest earner of the day as its share price appreciated by eight per cent to Rs 108 per unit, while Diprox Development Bank was the biggest loser as its share price fell by six per cent to Rs 599.
Nabil Bank registered the highest turnover in today’s trading as its shares worth Rs 6.8 million were traded.
Jhimruk Bikas Bank’s shares debuted at Rs 105 today in the stock exchange.
Today, 88,363 unit shares of 62 companies worth Rs 40.17 million were traded in 590 transactions.
The market capitalisation of the stock exchange increased to Rs 575.4 billion today.
Source: THT
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