TSE – Nepal Stock Exchange index scales to a new peak

KATHMANDU, JANUARY 7

Continuing its record-setting spree, the Nepal Stock Exchange (Nepse) index gained 0.73 per cent or 15.91 points to close the trading week at a fresh all-time high today.

While many investors are said to be in the wait-and-watch mode following the recent political developments, the country’s sole secondary market continues to draw investors in lack of other investment avenues due to the coronavirus pandemic and ample liquidity in the market which has dented interest rates of banks.

Consequently, this is the third all-time high set by the benchmark index just this week. After setting a new record on Sunday — the first trading day of the week — by closing at 2,175.27 points, Nepse had scaled to a fresh peak of 2,178.57 points yesterday.

That record was broken today as the local bourse settled at 2,194.48 points. Nepse had surged as high as 2,204.64 points around mid-day.

The sensitive index, which measures the performance of class ‘A’ stocks, rose 0.74 per cent or 3.08 points to 421.22 points.

The float index that gauges the performance of shares actually traded went up by 0.94 per cent or 1.39 points to 149.44 points.

Apart from others — which dipped 0.2 per cent or 3.64 points to 1,782.23 points — all the remaining subgroups recorded gains today.

Manufacturing led the pack of gainers, with the sub-index jumping by 2.06 per cent or 115.83 points to 5,739.95 points.

In terms of points gained, nonlife insurance took the lead, with the sub-index advancing by 144.86 points or 1.46 per cent to 10,076.37 points.

Altogether 11.77 million shares of 208 companies were traded through 50,933 transactions that amounted to Rs 5.87 billion today.

Multipurpose Finance Company was the top gainer, with its share value surging by the daily limit of 10 per cent to Rs 165. Everest Bank Ltd Convertible Preference was the top loser, down 3.81 per cent to Rs 706. Prabhu Bank was the forerunner in terms of trading volume and turnover, with 834,169 of its shares traded that amounted to Rs 317.14 million.

Meanwhile, Nepal Reinsurance Co Ltd had the highest number of transactions today — 2,039.

A version of this article appears in print on January 08, 2021 of The Himalayan Times.

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