The positive political cue helped push the stock index to a new high while investors grabbed insurance stocks this week — February 16 to 20.
The benchmark index climbed 19.78 points — 2.4 per cent — on the week’s trading. It reached 823.49 points by the end of the week. The market index had accelerated since the new prime minister was elected, crossing 800 points last week.
The possibility of the appointment of a full Cabinet within this week further fuelled the rally. Investors jumped into insurance stocks this week, pushing the subgroup index up by 358 points with almost all the insurance stocks posting high gains.
Despite the ascent of the index, transaction volume slumped by 30 per cent this week.
The stock exchange’s floor witnessed trading of 2.8 million units of shares worth Rs 1.12 billion in 9,386 transactions. Last week, the stock market saw trading of 5.2 million unit shares worth Rs 1.6 billion in 13,492 transactions.
Along with the Nepse index, the sensitive index that shows the performance of blue chip stocks increased by 3.14 points. Share trading of class ‘A’ companies comprised of 47.32 per cent
of total trading, amounting to Rs 526.5 million. Likewise, the float index that measures the performance of shares actually traded also went up by 1.49 points to 55.19 points.
The market opened at 803.71 points on Sunday afternoon. By the time the market closed for the day it had slipped to 802.08 points. The next day, it inched up a bit to 804.40 points. However, from Tuesday onwards the stock index soared on positive political cues, reaching 823.49 points by the time the market closed for the week.
This week, all the subgroups except manufacturing and hotels recorded gains.
Nepal Life Insurance Company registered a gain of Rs 427 per unit, LIC Nepal earned Rs 230, and PrimeLife Insurance Company’s share price went up by Rs 100, among others, contributing to the 12 per cent jump of the insurance index.
The hydropower subgroup recorded a gain of 86.78 points as Chilime Hydropower and Butwal Power Company earned Rs 40 and Rs 50, respectively, among others.
Finance companies and development banks also gained 30.7 points and 19.43 points, respectively, as investors betted heavily on shares of microfinance companies and Citizen Investment Trust. But commercial banks recorded a modest gain of 2.76 points.
Hotels lost 9.6 points, as Soaltee Hotel’s share price fell by Rs 16 and Oriental’s went down by Rs four. The manufacturing subgroup also plunged by 25.68 points as Unilever Nepal’s shares declined by Rs 185.
This week, Nepal Life Insurance topped the charts in terms of transaction volume with trading of shares worth Rs 73.3 million. In number of shares traded, Nabil Balanced Fund I was the forerunner with trading of 544,491 units.
In number of transactions, Sanima Mai Hydropower was the forerunner with 1,291 transactions.
The top five companies this week in terms of transaction volume were Nepal Life Insurance (Rs 73.3 million), Chilime Hydropower (Rs 61.7 million), National Life Insurance (Rs 59.4 million), PrimeLife Insurance (Rs 57.2 million) and Asian Life Insurance (Rs 52.8 million).
source: the himalayan times,22 feb 2014
LINK
The benchmark index climbed 19.78 points — 2.4 per cent — on the week’s trading. It reached 823.49 points by the end of the week. The market index had accelerated since the new prime minister was elected, crossing 800 points last week.
The possibility of the appointment of a full Cabinet within this week further fuelled the rally. Investors jumped into insurance stocks this week, pushing the subgroup index up by 358 points with almost all the insurance stocks posting high gains.
Despite the ascent of the index, transaction volume slumped by 30 per cent this week.
The stock exchange’s floor witnessed trading of 2.8 million units of shares worth Rs 1.12 billion in 9,386 transactions. Last week, the stock market saw trading of 5.2 million unit shares worth Rs 1.6 billion in 13,492 transactions.
Along with the Nepse index, the sensitive index that shows the performance of blue chip stocks increased by 3.14 points. Share trading of class ‘A’ companies comprised of 47.32 per cent
of total trading, amounting to Rs 526.5 million. Likewise, the float index that measures the performance of shares actually traded also went up by 1.49 points to 55.19 points.
The market opened at 803.71 points on Sunday afternoon. By the time the market closed for the day it had slipped to 802.08 points. The next day, it inched up a bit to 804.40 points. However, from Tuesday onwards the stock index soared on positive political cues, reaching 823.49 points by the time the market closed for the week.
This week, all the subgroups except manufacturing and hotels recorded gains.
Nepal Life Insurance Company registered a gain of Rs 427 per unit, LIC Nepal earned Rs 230, and PrimeLife Insurance Company’s share price went up by Rs 100, among others, contributing to the 12 per cent jump of the insurance index.
The hydropower subgroup recorded a gain of 86.78 points as Chilime Hydropower and Butwal Power Company earned Rs 40 and Rs 50, respectively, among others.
Finance companies and development banks also gained 30.7 points and 19.43 points, respectively, as investors betted heavily on shares of microfinance companies and Citizen Investment Trust. But commercial banks recorded a modest gain of 2.76 points.
Hotels lost 9.6 points, as Soaltee Hotel’s share price fell by Rs 16 and Oriental’s went down by Rs four. The manufacturing subgroup also plunged by 25.68 points as Unilever Nepal’s shares declined by Rs 185.
This week, Nepal Life Insurance topped the charts in terms of transaction volume with trading of shares worth Rs 73.3 million. In number of shares traded, Nabil Balanced Fund I was the forerunner with trading of 544,491 units.
In number of transactions, Sanima Mai Hydropower was the forerunner with 1,291 transactions.
The top five companies this week in terms of transaction volume were Nepal Life Insurance (Rs 73.3 million), Chilime Hydropower (Rs 61.7 million), National Life Insurance (Rs 59.4 million), PrimeLife Insurance (Rs 57.2 million) and Asian Life Insurance (Rs 52.8 million).
source: the himalayan times,22 feb 2014
LINK
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