The stock market rally decelerated despite encouraging political cues as investors booked profit on insurance stocks this week — February 23 to 26.
The benchmark index inched up marginally — by 2.91 points — on the week’s trading following a week of bullish run. The formation of a full Cabinet and appointment of Dr Ram Sharan Mahat — considered a market favourite — as finance minister could not maintain last week’s momentum. Investors tried to cash in on rising share prices, especially of insurance stocks, preventing the index to rise further.
The market opened at 823.49 points on Sunday afternoon. By the time the market closed for the day it had surged to 832.70 points. However, the rally could not sustain in the next three trading days. The heavy profit booking by investors led the index to slump to 826.40 points when the market closed for the week.
With investors flocking the market, transaction volume went up by 32 per cent this week. The stock exchange’s trading floor observed trading of 3.5 million unit shares of 149 companies worth Rs 1.47 billion in 10,934 transactions. Last week, the trading of 2.8 million unit shares worth Rs 1.12 billion was undertaken in 9,386 transactions.
Except for insurance and finance companies, all the subgroups recorded gains.
The biggest earner of the week was the hydropower subgroup that rose by 89.83 points as Chilime Hydropower’s share price increased by Rs 160 and Sanima Mai Hydropower’s went up by Rs 40 per unit despite the slump in other company’s shares.
Nepal Telecom’s shares also registered a gain of Rs 21 per unit and the others subgroup went up by 24 points. Likewise, Soaltee Hotel’s shares gained Rs eight per unit, pushing the hotels subgroup up by 9.15 points.
Commercial banks and development banks also gained 2.63 points and 1.91 points.
The insurance subgroup was the biggest loser of the week, slipping by 116.76 points. LIC Nepal’s shares lost Rs 360, National Life’s went down by Rs 90, and PrimeLife’s declined by Rs 60, among others.
Likewise, finance companies subgroup also slumped by 12.03 points, as Citizens Investment Trust shares plunged by Rs 399 per unit.
This week, Chilime Hydropower topped the charts in terms of transaction volume with trading of shares worth Rs 171.9 million. In number of shares traded, Nabil Balanced Fund I was the forerunner with trading of 368,330 units. In number of transactions, Sanima Mai was the leader, with 1,200 transactions.
The top five firms this week in terms of transaction volume were Chilime Hydropower (Rs 171.9 million), Nepal Life Insurance (Rs 88.5 million), NMB Bank (Rs 74.6 million), Sanima Mai (Rs 56.5 million) and National Life Insurance (Rs 54.6 million).
This week, Soaltee Hotel’s 8.2 million bonus shares were listed for trading.
source: the himalayan times,1 march 2014
LINK
The benchmark index inched up marginally — by 2.91 points — on the week’s trading following a week of bullish run. The formation of a full Cabinet and appointment of Dr Ram Sharan Mahat — considered a market favourite — as finance minister could not maintain last week’s momentum. Investors tried to cash in on rising share prices, especially of insurance stocks, preventing the index to rise further.
The market opened at 823.49 points on Sunday afternoon. By the time the market closed for the day it had surged to 832.70 points. However, the rally could not sustain in the next three trading days. The heavy profit booking by investors led the index to slump to 826.40 points when the market closed for the week.
With investors flocking the market, transaction volume went up by 32 per cent this week. The stock exchange’s trading floor observed trading of 3.5 million unit shares of 149 companies worth Rs 1.47 billion in 10,934 transactions. Last week, the trading of 2.8 million unit shares worth Rs 1.12 billion was undertaken in 9,386 transactions.
Except for insurance and finance companies, all the subgroups recorded gains.
The biggest earner of the week was the hydropower subgroup that rose by 89.83 points as Chilime Hydropower’s share price increased by Rs 160 and Sanima Mai Hydropower’s went up by Rs 40 per unit despite the slump in other company’s shares.
Nepal Telecom’s shares also registered a gain of Rs 21 per unit and the others subgroup went up by 24 points. Likewise, Soaltee Hotel’s shares gained Rs eight per unit, pushing the hotels subgroup up by 9.15 points.
Commercial banks and development banks also gained 2.63 points and 1.91 points.
The insurance subgroup was the biggest loser of the week, slipping by 116.76 points. LIC Nepal’s shares lost Rs 360, National Life’s went down by Rs 90, and PrimeLife’s declined by Rs 60, among others.
Likewise, finance companies subgroup also slumped by 12.03 points, as Citizens Investment Trust shares plunged by Rs 399 per unit.
This week, Chilime Hydropower topped the charts in terms of transaction volume with trading of shares worth Rs 171.9 million. In number of shares traded, Nabil Balanced Fund I was the forerunner with trading of 368,330 units. In number of transactions, Sanima Mai was the leader, with 1,200 transactions.
The top five firms this week in terms of transaction volume were Chilime Hydropower (Rs 171.9 million), Nepal Life Insurance (Rs 88.5 million), NMB Bank (Rs 74.6 million), Sanima Mai (Rs 56.5 million) and National Life Insurance (Rs 54.6 million).
This week, Soaltee Hotel’s 8.2 million bonus shares were listed for trading.
source: the himalayan times,1 march 2014
LINK
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