Stock Market News Pick of the Week
As expected, the NEPSE index indeed plummeted! But why? To know more on this and other updates from Nepal, share market, read our weekly stock market news picks of the week.
NEPSE plummets! Is it due to NRB’s silence?
In a tumultuous week for the Nepalese stock market, the NEPSE Index plummeted by a staggering 112.23 points(5.14%) to close at 2070.41 on Thursday.
The cause of this abrupt downturn was none other than the Nepal Rastra Bank's failure to address the pressing needs of investors in their Mid Term Monetary Policy Review, which was released a week before. In a state of hopeful anticipation, traders and investors had been eagerly expecting some changes in the monetary policy's provisions, especially those related to stocks investment, which were expected to bring much-needed relief to the market.
However, much to their dismay, Nepal Rastra Bank remained silent over the provisions affecting the Stock market citing concerns over the FOREX Reserve & pressure on BOP, which led to widespread disappointment and disillusionment amongst investors.
Consequently, NEPSE witnessed a double-digit dip on all four trading days of the week, leaving many to wonder if and when the market will recover from this latest blow.
Sector wise Index Performance of the Week
Sectors | Opening index | Closing index | Percentage change |
Finance | 1845.94 | 1708.44 | -7.45 |
Hydropower | 2738.49 | 2541.66 | -7.19 |
Investment | 69.44 | 64.85 | -6.61 |
Life insurance | 11021.61 | 10313.44 | -6.43 |
Development Bank | 3893.1 | 3648.55 | -6.28 |
Hotel & tourism | 3328.22 | 3123.1 | -6.16 |
Non life insurance | 9440.76 | 8959.65 | -5.10 |
Microfinance | 4720.83 | 4484.35 | -5.01 |
Manufacturing & Processing | 5399.72 | 5142.5 | -4.76 |
Others | 1561.16 | 1487.79 | -4.70 |
Trading | 2316.46 | 2222.28 | -4.07 |
Commercial Bank | 1405.96 | 1352.01 | -3.84 |
Mutual Fund | 14.62 | 14.29 | -2.26 |
Top Performers of the Week
S.No. | Top Gainers | Opening price this week | Closing Price this week | Percentage gained |
1. | Sanima Large Cap Fund (SLCF) | 8.1 | 9.01 | 11.23 |
2. | Rapti Hydro & General Construction Ltd. (RHGCL) | 313.5 | 342 | 9.09 |
3. | Unilever Nepal Ltd.(UNL) | 19000 | 20700 | 8.95 |
4. | Samling Power Company Ltd.(SPC) | 469.5 | 485 | 3.30 |
5. | Barahi Hydropower Public Ltd.( BHPL) | 627 | 640 | 2.07 |
S.No. | Top losers | Opening price this week | Closing Price this week | Percentage lost |
1. | Upakar Laghubitta Bittiya Sanstha Ltd. (ULBSL) | 3750 | 2333 | -37.79 |
2. | Infinity Laghubitta Bittiya Sanstha Ltd. (ILBS) | 1000 | 780 | -22.00 |
3. | Nirdan Utthan Laghubitta Bittiya Sanstha Ltd. (NUBL) | 1002 | 782 | -21.96 |
4. | Sagarmatha Insurance Company Ltd. (SIC) | 799.8 | 689 | -13.85 |
5. | IME General Insurance Ltd. (IGI) | 482 | 417.2 | -13.44 |
IPO Alert!!
Existing issue
Molung Hydropower Company Limited is opening the issue of 22,64,655 unit shares of Rs 100 face value from 4th Falgun, 2079. The early closing date of this issue is on 10th Falgun,2079.
Upcoming issue
Aatmanirbhar Laghubitta Bittiya Sanstha Limited will be issuing 1,69,755 unit shares to the general public of Rs 100 face value from 11th Falgun to 15th Falgun, 2079.
Dividends Announcements
S.N. | Name of the Companies | Bonus Shares | Dividend Tax (withheld and paid by the Company on shareholder’s behalf) | Total Distribution |
1. | Corporate Development Bank Ltd. (CORBL) | 5% | 0.26% | 5.26% |
2. | Ngadi Group Power Ltd. (NGPL) | 4.75% | 0.25% | 5% |
3. | Shangrila Development Bank Ltd. (SADBL) | 8.534% | 0.449% | 8.983% |
Diversify your Investment Portfolio
Do you have Mutual Funds in your investment portfolio? If not, this is the perfect time to start! With over 14 Mutual Funds listed on NEPSE being traded at a 20% discount to their Net Asset Values (NAV), now is the time to seize the opportunity and diversify your investment portfolio.
The cherry on top?
Mutual funds announce & distribute dividends immediately after the end of fiscal year. By investing in these discounted Mutual Funds, you'll have the potential to earn dividends in a period of just five months after the end of the fiscal year.