ECONOMY  

Kathmandu Sunday June 24, 2001 Ashadh 10,  2058.

Stock market surges over 4 points

Post Report

KATHMANDU, June 23 - After continuous tumbling for weeks, the Nepse index, during the transaction this week, surged by 4.06 points breaking the gloom hovering over the Nepali money market. The Nepse Index last week had slumped by 6.75 points.

According to the weekly share information complied and disseminated by Nepal Stock Exchange (Nepse), the opening Index on Monday, the first day of the weekly trading, stood at 332.81, which soared to touch 336.87 at the end of trading on Thursday. Some improvement in the share prices of commercial banks and financial institutions, which command lion’s share in the Nepali share market, helped largely for such surge.

On a group-wise basis, the index of commercial banks surged while the indices of manufacturing and processing group, finance and insurance group and other group dropped. Similarly, the indices of hotel group and trading group remained unchanged throughout the week-long transaction. The index of commercial group gained almost seven points and settled at 366.40 points from 359.62 points against a drop of almost 10 points last week.

However, the indices of manufacturing and processing recorded a marginal surge to touch 317.43 from 317.27 points. Similar decline was also observed for Insurance and finance group and other group which declined to 317.70 and 184.34 points from 317.78 and 196.90 points respectively.

In the same way, during this week’s transaction, the indices of hotel group and trading group remained stabilized throughout the week at 299.28 points and 114.63 points respectively.

The parti-cipation of com-mercial banks in the overall share trading this week declined heavily to capture 50.21 per cent from 72.55 per cent recorded last week. Such participation two weeks ago was 85.38 per cent. The participation of manufacturing and processing group, registered a remarkable swell to capture 23.21 per cent as opposed to just 4.50 per cent witnessed last week. Similar dramatic surge was also recorded for finance group that captured 25.08 per cent of the total transactions of the week. Similarly, the participation of hotel, insurance, and other groups managed to clinch 0.29, 0.99 and 0.21 per cent respectively.

During the transaction this week, of all the companies whose share were traded in the Nepse floor, NIC Bank secured first position in terms of number of transactions with 88 transactions while in terms of share units and value of transaction, Harisiddhi Bricks and Tile factory led the list. A total of 18,372 unit shares valued at Rs 5,513,520 of the factory were traded in Nepse floor this week.

Share trading in the Nepse in terms of volume and number of transaction and number of share units swelled as compared to last week. In total 528 transactions, 1,878,161 share units worth Rs 24.06 million were traded. During the transaction last week, a total of 13,802 share units valued at Rs 9 million were traded in 293 transactions.

During the transaction this week, 56 companies quoted their price for trading, out of which shares of only 36 companies were traded. The secondary market remained open just for four days during the week.

The Companies whose shares were traded in all the four days were Nepal Grindlays Bank (Rs 2,015 - 2,000), Himalayan Bank (Rs 1,370 - 1,451), Bank of Kathmandu (Rs 840 - 854), NIC bank (Rs 411 - 433), Nepal Arab Bank (Rs 1,450 - 1,510), and Sagarmatha insurance (Rs 211 - unchanged).

Similarly, other companies having transaction for only three days include Nepal Bank Limited (Rs 370 - 362), Nepal SBI Bank (Rs 1,460 - unchanged), Premier Insurance (Rs 200 - unchanged ), NIDC Capital Market (Rs 610 - 605), People’s Finance (Rs 240 - 235) and Lumbini Finance and Leasing Company (Rs 212 - 222).

Likewise, Other companies whose shares were traded for only two days of this week were Harishidhi Bricks and Tile Factory (1837,840/5,513,520), Nepal Lever (30/66,000), National Finance (1,500/1,855,000), Nepal Share Markets(10/1,800) and Pashchimanchal Finance (160/43,00).