The stock market, which opened at 513.28 points on Sunday, gained 10.13 points, or 1.97 percent, over the week to close at 523.41 points on Thursday -- the last trading day of the week and Nepali Year 2069.[break]
Data provided by Nepal Stock Exchange (Nepse) shows the benchmark index, which had closed at 516.02 points on Sunday, had dipped to 514.90 points by Monday. But as news about possible launch of full budget by late Tuesday evening started spreading, the index closed at 519.25 on Tuesday.
Although the full budget was announced on Tuesday evening as speculated, the sentiment of stock investors could not be gauged immediately as the market remained close on Wednesday due to public holiday. But by the closing time next day, the Nepse index had gained 4.16 points.
“The hike seen over the week could not be considered impressive, but considering the arrival of third-quarter end of this fiscal year when many investors are forced to sell their shares to arrange funds for interest payment, it could be said the announcement of full budget, albeit late, buoyed investor sentiment,” Stockbroker Anjan Poudel told Republica.
Over the week, share prices of most of the listed companies rose, with shares of Nepal Telecom, which contributes to around 25 percent of total market capitalization, gaining Rs 14 over the week to close at Rs 585 on Thursday.
Share prices of leading commercial banks also rose over the week. Nabil Bank, for instance, saw Rs 37 hike in its share prices over the week to end the week at Rs 1,845. Shares of Standard Chartered Bank Nepal also gained Rs 72 over the week to close at Rs 1,877 on Thursday. Likewise, shares of Everest Bank increased by Rs 39 to Rs 1,593, Nepal Investment Bank gained Rs 17 to Rs 785 and Himalayan Bank went up by Rs 7 to Rs 767 over the week.
Shares of leading insurance companies too ended the week on a high note. Share price of Nepal Life Insurance Company, for instance, closed at Rs 2,160 on Thursday from Sunday´s weekly opening price of 1,950. Even price of relatively newer insures, like Prime Life Insurance Company, went up by Rs 19 over the week to close the week at Rs 304.
Despite hike in share prices, which gave a lift to the benchmark index, share transaction amount fell by 26.69 percent over the week to Rs 302.45 million as the market was open for only four days due to a public holiday on Wednesday.
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