Nepse index sets another new record

As the bullish trend at the Nepal Stock Exchange (Nepse) continued for this week too, the Nepse index registered yet another new of record of 613.47 points by posting a double digit rise of 19.82 over the week.

The stock market began its trading at 593.65 points on Sunday and set a historical record on Tuesday by crossing 600-point mark for the first time. The growth was supported mainly by gains in share prices of commercial banks, finance companies and hydropower companies.

Although analysts say the current rise is unreasonable based on rumours made by some people.

The total turnover this week also increased significantly to Rs 497.4 million with 1,453,396 unit shares having been traded through 2,326 transactions, against the last week's figure of Rs 257 million through the trading of 624,893 shares.

Out of the total 87 listed companies for share trading, 68 companies saw their transactions this week. The trading took place for five days under a regular lot. Stock trading registered a continuous growth over the week with its index climbing to 598.52 points on the second day, 602.87 points on the third day and 611.08 points on the fourth day before closing at 613.47 points on the last day.

The group wise analysis shows that all major groups including commercial banks, the other and insurance groups each registered a healthy growth over the week.

The commercial banks group, which is the largest scrip by volume and aggressive performer, continued to climb up with an impressive growth of 26.68 points. The group closed higher at 681.89 points from the opening 655.21 points.

Likewise, the others group also registered a rise of 5.69 points, as it's trading soared to 818.12 points from the opening 812.43 points.

The insurance group trading that opened at 579.81 points on Sunday went up to 592.74 points on the closing day and also registered a double digit rise of 12.93 points.

As for the other gainers, the manufacturing group's index that began trading at 342.29 points closed at 346.43 points by registering 4.14 points growth and, while the hydropower companies' group gained 2.66 points that started from 833.80 points and closed at 836.46 points.

The finance and development bank groups rose to 466.83 points and 517.93 points from the opening 464.99 points and 515.11 points respectively.

Meanwhile, having not even a single transaction throughout the week, the trading and hotel groups remained constant at 155.21 points and 242.55 points.

National Hydropower Co Ltd topping all other companies exchanged 1,058,770 unit shares for Rs 218,550,330 through 410 transactions.

The floor remained open for four days, where the shares of Nabil Bank, Nepal Investment Bank, Standard Chartered Bank, Himalayan Bank, Nepal SBI Bank, Nepal Bangladesh Bank, Bank of Kathmandu, NIC Bank, Machhapuchhre Bank, Kumari Bank, Lumbini Bank, NCC Bank and Siddhartha Bank were traded throughout the week. Other companies that saw their transaction throughout the week include National Hydropower Co, Chilime Hydropower Co, Shikhar Insurance, Ace Finance and Deprosc Development Bank.