Nepse records over 5 points decline

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KATHMANDU, March 29 : After recording a recovery in index for a couple of weeks, the sole secondary market of the country slumped this week. The slid in Nepal Stock Exchange (Nepse) was by over 5 point.

While key groups failed to retain value of their shares, the Nepse index, which was opened at 217.39 point on Monday, landed to 212 point on Friday, according to information provided by the Nepse. The index had surged by 7.22 point last week and 2.46 point in the week previous.

Except for the hotel and the insurance group, all the Nepse-enlisted groups recorded a sharp decline in their indices, the largest loser being the development bank group. Even the commercial bank group, which carries a maximum weight in the secondary market, recorded a tumble of about 7 point.

The index of the commercial bank group landed at 209.35 point on Friday against 216.11 point recorded on Monday. Its index had recorded a rise of over 11 point last week and about 4 point during the week previous.

The index of the development bank group plummeted by over 8 point during the week, as its index fell flat to 263.14 point on Friday from 271.19 point recorded on Monday. Last week, it had soared by over 5 point.

The index of the finance group, another influential group at the Nepse, too slid by over 1 point to settle at 221.67 point from 223.04 point during the week. It had slid in index last week as well.

Likewise, indices of the manufacturing and the trading group slid by about 5 point and over 2 point respectively. Indices of these groups fell to 247.77 point and 89 point from 252.12 point and 91.65 point respectively. Last week, the index of manufacturing group had remained constant, while the index of the trading group had slid marginally.

The insurance group and the hotel group, however, saw a marginal improvement in their indices during the week. Their indices closed at 252.66 point and 205.89 point, up from 251.81 point and 205.32 point respectively.

Like previous weeks, the index of the other group, meanwhile, remained constant at 61.91 point.

As usual, the commercial bank group captured the largest chunk of stock trading carried out at the Nepse floor. Its trading comprised 49.65 per cent of the total stock trading. While the trading group 25.70 per cent of the total stock trading, the finance group captured 16.23 per cent.

Likewise, the insurance group captured 5.45 per cent. The hotel group, the development bank group, the manufacturing group and the other group comprised 1.39 per cent, 0.97 per cent, 0.61 per cent and 0.01 per cent respectively.

Shree Investment Finance recorded the highest transactions put at 460. But it was Salt Trading Corporation that topped the list of highest trading both in share units and monetary terms. A total of 15,136 shares of the company were traded at Rs 4.54 million.

During the week, a total of 40,520 share units were traded at Rs 9.23 million from 1,671 transactions, while the last week, 40,520 shares were traded at Rs 9.23 million through 1,671 transactions, according to the Nepse.

Shares of Standard Chartered Bank, Himalayan Bank, NB Bank, Everest Bank, Bank of Kathmandu, NIC Bank, Oriental Hotels, Nepal Life Insurance Company, Nepal Housing Finance Company, Gorkha Finance, Union Finance, Nepal Merchant Banking and Finance, International Leasing and Finance, Shree Investment Finance, Development Credit Bank and United Finance were traded throughout the four-day week.

While shares of Nepal SBI Bank, Taragaun Regency Hotels, Alliance Insurance, Lumbini Finance and Leasing and Nepal Development Bank were traded for four days, shares of Nepal Lever, Bishal bazaar Company, Goodwill Finance and Paschimanchal Finance were traded only once during the week.

Govt to issue kerosene coupons soon

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KATHMANDU, March 29 : The government has expedited exercises pertaining to distribution of coupons ensuring distribution kerosene at subsidised rates under ration, states a press release issued here today.

Under ration, coupon bearers would be supplied with maximum 10 litres of kerosene per month to a family at the rate of Rs 23 per litre. The market price of the product is Rs 28 per litre. The duel pricing in the product has been introduced in a bid to relive public at large, it being a preferred fuel of lower and middle class.

A co-ordinating team, having representation from Ministry of Industry, Commerce and Supplies (MoICS), Ministry of Homes (MoH), Ministry of Local Development (MoLD) and Nepal Oil Corporation (NOC) has already commenced works for early implementation of the duel-pricing system, says the release. "The distribution of coupons will commence shortly," it adds.

Police confiscates smuggled salt

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RAUTAHAT, March 29 : A joint police team of Birgunj and Rautahat confiscated at least 109 sacks of iodine-less salt that were smuggled to the country from southern neighbour on Friday.

A member of the police team revealed that the smuggled salt seized from one local godon of Garuda bazaar were packed in sacks having fake trademark of Nepal Salt Trading (NST). The salt smuggler duo, Uma Shankar jayaswal of Gaur and Ram Prasad Shah of Garuda were immediately taken to custody on charges of supplying iodine-less salt.

As local traders here enjoy the advantage of open border shared between Nepal and India, most consumable goods including salt, which are comparatively cheaper in India enters Nepal through illegal channel. The smuggled goods than are supplied in local market at higher price through the well-set distribution network thereby yielding more returns to smugglers.

Various markets of the district including Garuda, Samanpur, Katariya, Chandranighapur are flooded with the smuggled goods. The weaker border security inspection despite deploying the army at Birgunj check-point has resulted in massive influx of smuggling goods in this region.