Laxmi Capital News
Nepse benchmark index inches up 2 points

Nepal StockExchange (Nepse) benchmark index recovered 1.86 points this week to close at1,404.53 points on Thursday -- the last trading day of the week.

The stock marketobserved a minor recovery this week following a continuous slump in the lastfew weeks on account of rising interest rates of bank and financialinstitutions. Stock analysts have termed the recovery a normal phenomenon inthe market. 

“It seems that themarket has largely remained stable this week following a huge correction ofstocks,” said a broker. “Many investors who have their shares are onwait-and-watch mode while some have found the correction of stocks as time tobuy.”  

According to somestock brokers, recent political developments paving way for the election ofnational assembly has also lifted the confidence of investors who were worriedabout the continuous political bickering after the parliamentary and provincialpolls held recently. The rising interest rates in the wake of shortage oflendable fund has also sent stocks downward as many investors found depositingtheir money in banks more profitable than in investing in stocks. 

Most of thetrading groups ended in the green zone. 'Trading' group registered highest gainof 22.22 points to close at 213.77 points. Manufacturing and processing groupfollowed the suit as its sub-index went up 7.66 points to close at 2,491.17points. Sub-indices of Hotels and Hydropower climbed up 5.39 points and 3.49points, respectively, settling at 2,144.23 points and 1,857.64 points. Banking,the heavyweight group, also went up 3.09 points and ended at 1,217.2 points.Development Bank inched up 0.79 point to close at 1,566.54 points. Financegroup, however, ended 4.97 points lower at 716.47 points. Sub-indices ofMicrofinance and Insurance groups went down 2.69 points and 1.15 points,respectively, ending at 1,687.12 points and 7,193.3 points. 

A total of 5.06million units shares of 177 companies worth Rs 1.74 billion were traded in themarket this week through 19,133 transactions. The turnover was 59 percenthigher than the last week. 

Sanima MaiHydropower Company Ltd topped the list of companies in terms of turnover (Rs166 million) while Global IME Bank Ltd stood first in terms of traded shares(615,000 units). It was First Microfinance Development Bank Ltd which toppedthe list of companies in terms of number of transactions (776).

Bonus shares ofSurya Life Insurance Company Ltd and rights shares of Om Development Bank Ltdwere listed in Nepse for trading.

Source:My Republica, 28th January 2018

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