Banking index falls to 43 months low; 9 banks have their share prices below Rs 200 per unit
KATHMANDU, Feb 14: Nepal Stock Exchange (NEPSE) on Wednesday increased slightly by 5.91 points to close at 2,076.50 points.
The market opened at 2,070.59 points and plunged to the day’s low at 2,065.61 points in just 12 minutes of trading. In the next moment, the market went to an upward graph and hit the day’s high at 2,081.62 points in the next two hours. However, the market slid in the remaining period and shed around five points to close for the day.
The sensitive index that measures the performance of ‘A’ class companies added 2.27 points. The daily turnover declined to Rs 4.25 billion from Rs 4.67 billion on Tuesday.
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Six out of the 13 trading groups lost in their charm for the investors in the intraday trading. Life insurance lost the biggest of 28.72 points. Of the gainers, the finance index surged 116.44 points.
Among individual companies, 131 were recorded as gainers whereas 112 were the losers.
Himalayan Reinsurance Limited with transactions of its shares worth Rs 171.76 million continued to lead the segment. Nepal Finance Ltd was recorded as the top gainer, while People’s Power Limited lost the highest of 5.81 percent.
Banking sub index declines to 1,120.23 points
While the overall Nepal Stock Exchange (NEPSE) has failed to record steady growth in recent days, the banking sub index hit as low as 1,120.23 points on Wednesday.
It is the lowest mark that banking has fallen in the past 43 months. The group posted 1,109 points on July 6, 2020. The sub index continued to grow and reached as high as 2,175 points on July 25, 2021, when the overall NEPSE escalated to an all- time high at 3,198.60 points.
Banking sector lost its charm for investors mainly in the past two years. At present, the share prices of nine out of 19 commercial banks stand below Rs 200 per share.
