Hydropower firms, banks gain on Nepse

Nepal Stock Exchange’s index Nepse gained 17.68 points this week (July 09-15) after a week of fall. However, share market experts termed the fall as an “intentional foul play by big investors”. Nepse had lost 10.84 points last week. The growth is not natural, said Rabindra Bhattrai, an expert on the Nepali capital market. “It seems some kind of foul play by big investors are behind the gains this week,” he said. “There is no change in the economic fundamentals to support this week’s gains,” he added.

Perhaps, big investors had played up the market to avoid margin call from banks and financial institutions, he added. “This is an artificial growth and will not last for long,” he said.

We can’t expect this kind of change in the index as a result of the budget because no new measures have been introduced to support the financial market or the industry in general, he said. He suggested small investors to wait and watch, saying there is no encouraging environment for short-term now.

The secondary market that closed at 460.07 points on Nepse on July 8 opened at 460.02 points on Sunday and a continuous gain was recorded for the next four trading days. Nepse gained 10.4 points in a single day on Thursday. The index gained 17.71 points between Sunday and Thursday.

This week, through 3,137 transactions 395,820 shares of 99 companies were traded, amounting to Rs 135.69 million. The transaction amount this week is 4.37 per cent less than that of last week. This week, the transactions of class ‘A’ companies comprised 62.93 per cent of the total transactions, amounting to Rs 85.3 million. The major gainer subgroups of the week include Hydropower (132.71 points), Commercial banks (20.54 points), Other (11.75 points) and Hotel (0.76 points). No change is noticed in Manufacturing, Trade, Insurance, Finance Companies and Development banks subgroups.

Bank of Kathmandu topped the list with a total transaction of Rs 21.88 million, followed by Standard Chartered Bank (Rs 9.54 million), Bhrikuti Development Bank (promoter shares worth Rs 9.44 million), Chilime Hydropower Company (Rs 8.84 million) and Nabil Bank (Rs 8.06 million).

In terms of number of transactions, Bhrikuti Development Bank topped the list with the transaction of 75,533 shares while Asian Life Insurance topped in the number of trade at 382.

This week rights, bonus and general shares were listed on the Nepse including 22,770 units of debentures. As per the list, 4.62 million rights share of Annapurna Development Bank, bonus shares of Siddhartha Bank (3.43 million units), Salt Trading (43,220 shares) and Bhrikuti Development Bank (211,420 shares) listed in Nepse. Similarly, ordinary shares of Nerude Micro-hydropower Development Bank (200,000 units) and Nilgiri Development Bank (500,000 units) were listed on the Nepse.

NEPSE fall continues

The Nepali capital market plunged by 6.43 points to stand at 446.03 at the end of the week from 452.46 points when the market had opened on Sunday.

Nepal Stock Exchange (NEPSE) trading floor saw a total of 3,818 transactions of 96 companies worth Rs 166.69 million this week.

The class ‘A’ companies covered 55.82 per cent of total transaction amounting to Rs 65.1 million. Three sectors including commercial banks, hydropower and finance companies lost 4.2 points, 2.84 points, and 6.25 points, respectively. Hotels, trade, insurance and development banks gained 5.21 points, 4.97 points, 4.57 points and 8.27 points, respectively while no transaction was made in manufacturing sectors.

Chilime Hydropower Company topped the chart in terms of transaction amount as its shares were traded at Rs 11.4 million. In terms of number of share units traded, National Hydropower Company topped the chart, with 50,000-unit of shares transacted. Vibor Bikas Bank was the frontrunner in terms of number of transactions.

This week’s top five performing companies are Chilime Hydropower Company (Rs 10.14 million), Annapurna Finance (Rs 8.38 million), Bank of Kathmandu (Rs 8.12 million), Standard Chartered Bank (Rs 8 million) and Vibor Bikas Bank (7.28 million). This week, Alliance Insurance Company’s 5, 99,517 unit right shares were listed in the market.

NEPSE lost 18.27 in this week

Nepal Stock Exchange (NEPSE) this week lost 18.27 points to close at 486.25 points as compared to the opening day.According to the NEPSE data, it traded 366,800 shares of 86 companies in 4,426 transactions generating a total turnover of Rs. 147,304,800 this week. Last week, it had traded 610,100 shares worth Rs 210,508,000 in 4,739 share transactions. Transaction amount this week declined by 30.03 percent as compared to the previous week. Of the total shares traded, Group-A companies contributed Rs. 79,800,000 to the total transaction which alone stood for 63.03 percent of the total share transaction.
This week, trading, insurance and hydropower saw a gain while the group categorized as others, commercial banks, development banks and finance went downhill. On the other hand, manufacturing and hotel groups saw no transaction at all. The trading group made a gain of 4.54 points to surge to 251.61 points, the insurance increased by 2.68 points to jump to 575.74 points and the hydropower elevated by a slight 0.26 points to end at 779.97 points.
The others lost the most as it shed 62.26 points to decline to 528.73 points. Likewise, the commercial banks went down by 12.69 points to end at 461.76 points, the development banks lost 5.42 points to settle at 457.54 points and the finance lost 4.21 points to close at 479.29 points.
The sensitive index, which measures the performance of Group-A companies, declined by 5.02 points to rest at 118.68 points. Bank of Kathmandu (BoK) occupied the first position in terms of total turnover (Rs. 20.33 million). CMB Finance topped in the number of shares traded (31 thousand units) and Vibor Development Bank topped in the number of transactions (387). On the basis of transaction amounts, BoK (Rs. 23.32 million), Standard Chartered Bank (SCB) (Rs 14.71 million), CMB Finance (Rs 11.17 million), Nabil Bank (Rs 7.83 million) and Chilime Hydropower Company (Rs 6.82 million) were the top five companies, the NEPSE weekly report stated. This week, the NEPSE listed some 301,836 units of bonus shares of NIDC Capital.

Stock Market News (2066/10/28)

  • Poeples Finance Limited 13th AGM Notice. Date: 2066/11/28, Time:11am, Place: Nepal Prasasanic Prasicha Pratisthan jawalakhel lalitpur, Book close:2066/11/6, Agenda: Annual report, Amendment of memorandum of article.
  • Chilime Hydropower Company Limited 13th AGM notice: Date:2066/11/23, Time: 2pm, Place: Nepal Prasasanic Prasicha Pratisthan,jawalkhel lalitpur :Book close:2066/11/03, Agenda: Annual report, Amendment of memorandum of article.
  • Swastic Merchant and Finance 2nd AGM notice: Date:2066/11/21, Time:4pm , Place: hotel himalaya,cupondole,lalitpur.Ageda:Annual report.
  • Nepal Housing and Merchant Finance 15th AGM notice:Date:2066/11/21,Time;11am, Place:Ryadison hotel, lajimpat kathmandu. Book close: 2066/11/06. Agenda:Annual report, Increse in capital.
  • Nepal Bittiya Sastha Sang 4th AGM notice: Date:2066/11/15, Place: Mount Kailash resort, lakeside pokhara.Time:11am, Agenda: Annual report.
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