Stock market increases by 13.99 points

As gullible investors rushed to buy shares at higher prices to take advantage of the bullish market, the stock market this week has increased by 13.99 points.

According to the Nepal Stock Exchange (NEPSE), its index opened at 569.45 points and ended 583.44 points setting a historic high for weekly closing.

The floor opened for five days under a regular lot. The index dropped on the first day but it gained on the remaining three days. The index dropped to 563.49 points on the second day, but bounced back to 567.28 points on the third day, 578.81 points on the fourth day and closed at 583.44 points on the last day.

However, the weekly turnover this week has decreased to Rs 270.2 million with 690,834 unit shares having been traded through 1,516 transactions, against the last week's figure of Rs 281.3 million through the trading of 555,153 shares. Out of the total 88 listed companies for share trading, 63 companies saw their transactions this week.

The Nepse data shows that all major groups including commercial banks, the other and insurance groups each registered an impressive growth. The commercial banks group, which is the largest scrip by volume, continued to climb up and registered an impressive growth of 17.11 points. The group closed higher at 646.01 points from the opening 628.80 points.

Likewise, the insurance group registered an impressive growth, its index rising to 562.40 points from 545.58 points.

As for the index of hotels group, it rose to 242.17 points from 239.48 points. The others group recorded a staggering growth of 25.72 points, its index ended at 775.17 points, up from 749.45 points.

Ending at 462.43 points from 461.79 points, the finance group registered a nominal rise. The index of the development banks group increased to close at 501.74 points from 496.05 points.

The manufacturing and the trading groups, meanwhile, remained constant at 339.70 points and 155.21 points respectively, as these groups didn't have a single transaction throughout the week.

National Hydropower Company led others by transactions, shares and turnover. A total of 331,260 units of shares of the company were traded on a turnover of Rs 50.8 million through 117 transactions.

The Nepse floor remained open for five days under a regular lot, where the shares of Nabil Bank Ltd, Nepal Investment Bank, Himalayan Bank, Standard Chartered Bank, Himalayan Bank Ltd, Nepal SBI Bank, Nepal Bangladesh Bank, Everest Bank, Bank of Kathmandu and Machhapuchhre Bank were traded throughout the week. Other companies that saw their transaction throughout the week include National Hydropower Co, Chilime Hydropower Co and Sanima Development Bank.