KATHMANDU, AUG 12 -
The stock market last week remained largely firm above 400 points, with the benchmark index losing a meager 0.47 points.
The Nepal Stock Exchange (Nepse) index closed the week at 402.47 points on Wednesday, from Sunday’s 402.94 points. Trading didn’t take place on Thursday due to public holiday.
Hydropower companies registered a whopping 51.52-point gain. Groups representing manufacturing companies and others were up 10.90 and 5.87 points, respectively. Commercial banks, hotels, insurance companies, finance companies and development banks lost 4.37, 3.28, 3.44, 3 and 1.11 points, respectively. The trading firms saw no change in their index.
Stockbrokers say the capital market is pretty stable for the last few weeks and has won investors’ confidence. “We have not seen big fluctuations in the index for the last couple of months,” said Nanda Kishore Mundara, a stockbroker. “The market has weathered the tough times and the coming days are expected to be better.” Mundara, however, added that performance of listed companies — especially of banks and financial institutions (BFIs) — which would be published soon, would determine the market’s fate.
Stockbrokers attribute the improvement in the market to the government’s stimulus measures such as opening share purchase loans, central depository system and mutual funds.
Stock investors and brokers had long been demanding the provision of share purchase loans. Although BFIs are yet to provide such loans at bigger scale, brokers, investors and bankers have initiated talks in this regard. Anjan Raj Poudyal, president of the Stock Brokers’ Association of Nepal, said such a lending would be started by the end of August if things go as planned.
Apart from the stability in the market index, the exchange is also witnessing a healthy volume of transactions. In last week’s four trading days, the exchange registered a turnover of Rs 273.37 million — up 31.39 percent compared to Rs 208.07 million in the previous week.
Chilime Hydropower Company posted the highest individual turnover of Rs 71.74 million. Kist Bank topped the chart in terms of the number of shares traded with the company’s 284,380 shares changing hands the highest 707 times.
Source: http://www.ekantipur.com/2012/08/12/business/stock-market-firm-above-400-points/358640/
0 comments:
Post a Comment