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January, 2005 |
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Stock Taking |
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NEPSE Gained in 2004
BY Rabindra bhattarai The year 2004 was a good one for the Nepali stock market. It gained Rs. 10,568 in market capitalization and 36.77 points in the NEPSE index between January 2 and December 31 of the year 2004. All the sectors, except the development banks, gained in the NEPSE index over the period though the gain was very marginal in trading companies, hotel companies and companies that belonged to the other categories. Though the overall NEPSE index went on tumbling right from the later part of January and reached a nadir of 194.71 on its weekend close of April 10, it then started gradual northward journey throughout the year except slight weekend waverings in some weeks after late August.
One major reason for the increase in market capitalization was the listing of some big companies such as Laxmi Bank Ltd., Kumari Bank Ltd., Lumbini Bank Ltd. and a number of finance companies. Also listed was National Hydro, the first power generation company listed in NEPSE. However, only the promoters shares in this company are listed in the stock exchange as it is still to allot shares issued to the public. Among the individual scrips, notable revivals were Necon Air (Rs. 20 on January 15 to Rs. 27 on December 31) and Oriental Hotels (Rs. 39 on February 23 to Rs. 46 on December 30). Though they are still far below their paid up value of Rs. 100. Similarly significant revival was seen also in Gorakhkali Rubber Udyog (Rs. 22 on January 22 to Rs. 44 on December 27), though it is still for below its paid up value of Rs. 75 One notable loser was Nepal Development Bank (Rs. 119 on January 2 to Rs. 94 on December 31) which went below the paid up value of Rs. 100 during the year. |
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