Monday 22nd July 2024
Monday 22nd July 2024
गृहपृष्ठBusinessWhile coronavirus brings economy to a standstill, share market continues to soar 

While coronavirus brings economy to a standstill, share market continues to soar 

Nepse index jumps 9 points on Tuesday, the fourth straight day of gains  

KATHMANDUPATI – Stocks continued to move upward on the fourth straight day on Tuesday.  Even at a time when the coronavirus has brought the economy to a standstill, the stock market is observing a rally in recent days. Nepal Stock Exchange (Nepse) benchmark index climbed up 9.34 points on Tuesday to close at 1,440.94 points. 

The jump also represents the fourth straight day gain in the stock market. In the last four trading days, the benchmark index has shot up 47 points. 

Most of the sectors traded in the stock market ended in the green zone on Tuesday.  Life Insurance sector which represents life-insurance companies posted a gain of 32.26 points. Hotels, Banking and Hydropower sectors also went up. However, it was only Trading, Manufacturing & Processing and Mutual Fund sub-groups that suffered losses on the trading day. 

The lockdown imposed by the local administrations in the Kathmandu Valley to combat the spread of coronavirus did not have a much impact in the stock market. While the payment of share purchases has been limited to online payment, the turnover has remained at an average daily level.

The total turnover for the day stood at over Rs 1.86 billion. According to Nepse, a total of 3.94 million units of shares of 189 listed companies were traded on Tuesday through 24,101 transactions. 

Share price of Nepal Reinsurance Company Ltd went highest by Rs 48 on Tuesday. Asha Laghubitta Bittiya Sanstha Ltd, Surya Life Insurance Company Ltd and Panchakanya Mai Hydropower Ltd and Prime Life Insurance Company Ltd, among other companies, were the major gainers. 

However, Samriddhi Finance Company Ltd, Union Hydropower Ltd, National Hydropower Company Ltd and Pokhara Finance Ltd, among other five dozen companies, posted losses on Tuesday’s trading.

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