Published On: January 28, 2023 05:48 PM NPT By: Republica | @RepublicaNepal
KATHMANDU, Jan 28: Nepal Stock Exchange (Nepse) last week increased marginally by 4.40 points after the banks posted not so encouraging financial statements as of the first half of this fiscal year due to an increasing proportion of their bad debts.
In a four-day trading session, the secondary market opened at 2,178.81 points on Monday and closed at 2,183.21 points. During the trading days, the market went as high as 2,202.26 points, while the index hit as low as 2,140.18 points. Overall, the market witnessed fluctuations of 62.08 points.
Despite banks earning a good amount of profits, shareholders fear that they might not get a good amount of dividend due to surging cases of defaulting banks’ loans, according to a stockbroker.
On Monday, the secondary market fell 13.71 points. However, the market gained 8.20 points and 10.37 points on Tuesday and Wednesday, respectively. On Thursday, the market declined marginally by 0.41 points.
Six out of the 13 trading groups gained in their average share prices last week. Life insurance and non-life insurance were the main gainers, adding 312.01 points and 274.70 points in their market values. Hotels and tourism, finance, hydropower and trading were among others in the gainers’ list.
Total turnover increased to Rs 13.19 billion from Rs 11.69 billion in the previous week. The average daily turnover, however, fell to Rs 3.29 billion from Rs 3.89 billion. Market capitalization increased marginally from Rs 3.145 trillion to Rs 3.150 trillion.
Among individual companies, Kumari Bank Limited had the largest transaction of its shares worth Rs 432.76 million. Adarsha Laghubitta Bittiya Sanstha Limited was registered as the top gainer, while Saptakoshi Development Bank Limited was the top loser in the review period.
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