Share market recovers by 5.99 pts

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KATHMANDU, Aug 11 - After series of tumbles eroding the investment confidence of the investors of Nepalese money market, the Nepal Stock Exchange (Nepse) index this week soared by 5.99 points. The index, last week had tumbled by 5 points.

According to the stock information released by Nepse, on the opening day of the share transaction on Monday, the index stood at 321.22 points, which on the closing day surged by 5.99 points to touch 327.11 points.

In sector wise break down of the index, the index of the commercial banks, which is the major shareholder in the stock market, soared by almost 10 points to touch 350.87 points from 340.89 points. Its index during last week’s transaction had slumped by 7.69 points and settled down at 333.85 points while similar plunge of over 14 points was witnessed in the previous week.

The index of hotel group also recorded an increase of almost 4 points from 247.85 points on the opening day to 251.22 points on the closing day. The index of this sector had also shown the highest fall of 18.09 points in last week with the fall from 265.94 points to 247.85 points. Similar double-digit plunge of 17.36 points was also recorded in the previous week.

Despite improvement in the index of the major share trading sectors, the index of insurance and finance sector declined marginally from 326.14 points to 325.80 points. This group had recorded a marginal improvement in its index last week that rose from 325.93 points to 327.91 points.

During the week, the index of the manufacturing and processing group declined marginally to settle at 333.28 points from 333.98 points whereas its index during the transaction last week had remained unchanged at 333.98 points. However, the index of other group registered a nominal increment and touched 181.48 points from 180.34 points whereas the index of the group had remained unchanged at 118.11 points last week.

Similarly, in the group-wise market participation, after record breaking slide in the participation of the commercial bank last week, it regained its lion’s share and captured 70.79 per cent of the total transaction. Its participation last week had tumbled to capture just 6.5 per cent and had slipped to the third position.

Likewise, during this week’s transaction, the participation of finance group retained its second position by capturing 24.38 per cent whereas such participation in the last week was 10.5 per cent of the total transaction.

The participation of manufacturing and processing group captured 2.62 per cent against the nominal participation of 0.93 percent recorded last week. Similarly, the participation of hotel group and insurance group remained 0.37 per cent and 1.19 per cent respectively while the participation of other group stood at 0.65 per cent. No transaction of the trading group was recorded this week.

In this week, the share market recorded a total turnover of Rs 18.94 million in 988 transactions through 40,707 share units whereas the share market had a total turnover of 132.04 million in 953 share transactions with 995,924 units last week.

During this week, Sidhartha Finance Company topped the list of listed company with 289 number of transactions whereas, in terms of share units, Nepal Merchant and Banking Company secured the first position with transaction of 7,770 share units. While in terms of volume of transaction, Bank of Kathmandu was ranked first with the transaction of 3 million. The Nepse market this week remained opened for all five days.

Companies whose share trading was recorded for all five days include Standard Chartered Bank (Rs 2,030 - 2,000), Himalayan Bank (Rs 1,445 - 1,475), Nepal SBI Bank (RS 1,550 - 1,565), Nepal Bangladesh Bank (Rs 1,131 - 1,040), Bank of Kathmandu (Rs 481 - 465), NIC Bank (Rs 390 -380) and Sidhartha Finance (Rs 195 - 196)

Likewise, the companies whose shares were traded for four days this week are Nepal Indosuez Bank (Rs 1,080- unchanged), Everest Bank (RS 710 - 715), Taragaon Regency Hotel (Rs 75 - 84), Necon Air (Rs 115 - 110), HISEF (Rs 265 - 270)and Lumbini Finance and Leasing (Rs 240 - 225).

During the week, the companies having their share transaction only for one day include Nepal Lever, Soaltee Hotel, Premier Finance, National Finance, Annapurna Finance, Nepal Housing and Merchant Finance and Goodwill Finance and investment Company.

Nepal's entry intoWTO helps in boosting productivity

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BUTWAL, Aug 11 - Experts and economists gathered here in a program have pointed out that Nepal should be able to utilize the opportunities that would emerge after Nepal’s entry into WTO by enhancing its competitiveness.

Speaking in a national seminar organized by Rupandehi Chambers of Commerce and Industry on Possible Challenges and Opportunities on Nepalese Industry after Nepal’s accession to WTO, they said that Nepal’s entry into WTO would be helpful in boosting national productivity if it manages to use the challenges and opportunities by safeguarding national interest.

They also underlined the need that the government should be serious in formulating necessary and strong strategies to make domestic industries able to overcome the challenges that may emerge after Nepal’s entry into WTO.

Dr Posh Raj Pandey, National Program Coordinator of Nepal’s accession to WTO Project, presenting a working paper on ‘WTO and Nepal’s Participation’ said that no country in the world can formulate its own economic policy without incorporating the upcoming changes in world economy.

He said that the accession to WTO would help to stimulate economic reforms by minimizing chances of manipulation in the trade policies and its implementations along with reducing industrial slackness and thus help to promote national productivity. He further added that in the post entry period it would be easier for the Nepalese exports to penetrate into the intentional market due to reduced customs rates and scrapped of non-tariff barriers.

However, he said that it is a challenging task to minimize the possible emerging negative impacts of trade liberalization on poor people and unskilled labors. "The domestic industries in a country like ours, could face negative impacts if we fail to boost competitiveness," he warned.

Professor Parthibeshwor Timilsina, speaking on the same occasion, said that Nepal has no alternative than to enter into WTO and he stressed upon the need to formulate necessary strategies to make itself able to face various challenges.

Presenting a paper on ‘Nepal’s International Trade’, Economist Bijendra Man Shakya said that the government as well as the private sector should be ready to face the emerging challenges after Nepal enters the world trade body. He also pointed out the lack of perfect national strategies to withstand the upcoming challenges.

Prachanda Man Shrestha, Joint Secretary at Ministry of Industry, Commerce and Supplies said that the government is conducting various consultations on possible long-term and short-term effects of WTO membership on the domestic industries and assured the gathering that necessary strategies would be adopted.

Bagmati River Festival observed

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KATHMANDU, Aug 11 – With an aim to retain the religious importance of the Bagmati River and also to develop it as one of the tourist attractions, an awareness program was organized in the Valley today as a joint effort of Nepal River Conservation Trust and the Friends of Bagmati.

The campaign named as Bagmati River Festival is promoted by Nepal Tourism Board.

The festival started at Sundarijal at early in the morning as 40 kayaks rowed in Bagmati river to mark the opening day. The kayaks were joined by 9 rafting boats at Tilganga and the festival ended today with the plantation and cultural programs at Sankhamul.

The leading comedians Madan Krishna Shrestha and Hari Bansha Acharya were also present in the festival. The program ended with the environment song Bagmati Bachau (Save Bagamati) from Ishwor Gurung and 1974 AD musical band.

Megh Aale, Founder Chairman of the Nepal River Conservation Trust said The Kathmandu Post that he was completely satisfied with the program "The awareness program has been successful but the real success would be felt only if local people as well as the policy makers realize the need to keep the Bagmati river clean"

When the rafters and the kayaks were rowing in the polluted river, the local people were enjoying event with a mark of great astonishment. Suraj Shahi, a local resident of New Baneshwor said that he had never believed that Bagmati could also be used for rafting and developed as a tourist destination.

In the present time where the religious importance of Bagmati river is declining day per day with increasing water pollution, there is a need to save Bagmati and regain its fame back. Though, more than 100 organizations are found to be attached with Save Bagmati campaign, most of them have not been active. At a time when the inflow of the tourist is falling, the use of this river for rafting can be a great attempt to attract the tourists.