The benchmark index started trading at 2887.5 points on Sunday, which is the week’s first trading day in Nepal, happily put 71.43 points by the end of the trading session.

The gain is a positive sign as the stock market faced considerable headwinds in the last week. The Sunday trading session saw plenty of scrips gaining on the first day of trading.

Stock traders traded a total volume of 17,100,333 unit shares which belonged to 231 companies. This trading session was valued at NPR 9.440 billion.

The sensitive index spiked by 2.43 percent to 548.29 points by gaining 13.03 points. This index is the gauge that indicates the performance of Class ‘A’ stocks.

Excepted Mutual fund index, all the sub-indices shot up and posted good gains. The Mutual fund index dipped 0.29 percent while Citizens Mutual Fund lost 0.39 points which amounted to 3.58 percent dip.

The Non-life insurance index was bullish on Sunday’s market as it posted a 424.77 point gain. It was followed by the Manufacturing and Processing index, which gained 299.69 points. Tailwinds propelled the Life insurance index as it gained with 297.71 point increase. 

Stay Tuned to NepaliSansar for Latest Nepal Business News Updates!

More News:

• WC League 2: Nepal Vs USA, Watch Live Today!
• Grade XI Supplementary Exam Routine 2078 Released! Check Now!
• 2021 EPL T20 Tournament Schedule Announced! Have a Look!
• WC League 2 Qualifiers: Nepal Looks Strong Against PNG
• King Birendra’s Coronation Carriage Now on Display

The post NEPSE edges up to 3,000 points on Sunday appeared first on Nepali Sansar.

Mura Parajuli, the NEPSE spokesman, stated that the NEPSE’s previous highest turnover until had been NPR 19.5 billion. However, this was shattered on Sunday.

Market exported opined that the turnover rose as Nepal Rashtra Bank announced the monetary policy on Friday. The Nepal central bank announced that it would not be changing the lending rate for margin loans.

However, the stock exchange’s index dipped on the first working day after the central bank’s announcement. All the sub-indices except Microfinance and manufacturing dipped.

The NEPSE index fluctuated for a while before ending at 3,154.03, which was 24.88 points less than the opening mark of the day.

Stay Tuned to NepaliSansar for Latest Nepal Business News Updates!

More News:

• Nepalis Ignore COVID-19 Threat as They Visit Pashupatinath Temple in Droves
• As Taliban Captures Afghanistan, Nepal Prepares to Rescue its Citizens!
• Nepal Vaccinates Students Attending In-person Exams Against COVID-19
• Miss Grand Nepal 2021 Audition Dates Announced! Apply Now!
• Food Dept. Files Case Against State-owned DDC for Suboptimal Products

The post Nepal Stock Exchange Witnesses Record Turnover appeared first on Nepali Sansar.

The investors have been on a hunger strike in front of the Nepal Stock Exchange (NSE) demanding the resignation of the Finance Minister Yuba Raj Khatiwada and Nepal Rastra Bank (NRB) Director Chiranjeebi Nepal.

Chairman of the Securities Board of Nepal Rewat Bahadur Karki, NSE Chair Laxman Neupane and Insurance Board Chairman Chiranjeebi Chapagain were among other officials targeted by the investors.

“The promises which the government authorities have been making for the improvement and upliftment of investors for last three-four years have not been fulfilled. We demanded swift implementation of measures to protect the interests of investors, but the government did not pay any attention. As a result, we have started the hunger strike to pressurize the government,” says Koirala, a senior economic journalist.

Koirala alleged that the Finance Ministry failed to bring in reforms in the national stock market situation.

“Finance Minister Yubaraj Khatiwada and the head of other regulatory bodies do not want to expand and improve the financial market because of which, we are now facing forced to go on a hunger strike demanding their resignations,” Koirala adds.

“The veteran economist is himself the Finance Minister. He is well aware of the issues but is acting indifferently. He has been ignoring 1.7 million share investors,” says Sushma Dhungana, one of the investors in the national stock market.

The investors published their 14-point demands calling reformation in the capital market, protection of investors and creating an investment-friendly environment in the country.

The group stands committed to continuing their protests until their demands are accepted.

What does the government have to respond on this? Let’s see!

The post Nepali Investors Allege Govt. Failure in Fin Market, Demand Upliftment appeared first on Nepali Sansar.

The Minister for Finance Yubaraj Khatiwada launched the online system in Kathmandu, which will work under the set guidelines of the Securities Board of Nepal (SEBON), Nepal’s regulatory body for stock trading.

Speaking at the launch of the program, Khatiwada said the government is working to drive institutional investors into the domestic trading process, alongside encouraging the expansion of the mutual fund and commodity markets for diversification.

All the domestic share brokers have already been associated with the new system that has all the related physical infrastructure support ready.

The new process replaces the earlier system where the investors had to visit the office directly to do trading and aims to take domestic stock activity to the international standards.

Speaking at the launch program, SEBON President Rewat Bahadur Karki expressed hope that the new system would be an effective way for trading in shares for the Nepalis home and abroad.

Karki also opined that the online system would also help in expanding financial access and awareness among the populace.

Various other dignitaries present at the event stressed on the need to increase investor confidence on the online process by addressing issues around it.

NEPSE President Laxman Neupane, National Insurance Committee President Chiranjivi Chapagain, Stock Brokers Association President Bharat Ranabhat, were among others present at the event.

The post Nepal Stock Trading is Now Fully-Automated! appeared first on Nepali Sansar.

Recorded at a decline by 2.19 points, the average turnaround stood at Rs 211.25 million during July 22-28, 2018 compared to Rs 291.02 million in the previous week.

On Sunday, the market that opened on a hopeful note of 1193.39 points, slumped lower to close at 1,181.66 points. However, on Monday and Tuesday the market index witnessed a high, resulting in an increase by 12.84 and 4.77 points on both days. Going forward, in the middle of the week the stock market saw a downward curve when the market index fell by 4.92 points and 3.15 points, respectively.

As a result, the stock exchange market slumped to close at 0.18 percent in the overall trading days.

Stockholders observed that the high interest rates charged by Nepal banks led to a decline in the stock exchange numbers. Investors were demotivated by the bank’s high interest rates.

“Investors complained that they were still compelled to pay as high as 15 percent interest rate despite the banks’ assurance to lower the rate following an ease in liquidity position with them in recent days,” revealed a stockbroker.

Performance Across Various Sectors:
According to sensitive index, Group A companies performed relatively low and showed a marginal decrease by 0.46 points to close at 250.96 points. The majority blue chip companies including commercial banks also witnessed a fall in their share process.

Out of 11 trading groups, five reported losses during July 22-28, 2018. Microfinance faced the bigger brunt, losing 20.11 points and totaling up to 1541.5 points. Manufacturing followed next, reporting a loss of 9.31 points.

Hydro-power, development banks and commercial banks also reported losses, recorded at 2.43, 0.95 and 0.06 points respectively.

Talking about the winners, hotels climbed higher by 38.54 points, followed by trading by 0.42 points, and finance companies by 0.33 points.

Recently, the Nepal Stock Exchange separated life from non-life categories in the insurance group, both of which reported a closing total of 5,942.18 points and 5,904.76 points.

In the banking sector alone, Nabil Bank Limited was leading in terms of transaction amount. The company earned a turnover on shares worth Rs 53.03 million. Nepal Investment Bank stood second after displaying a turnover of Rs 38.88 million. This was followed by Nepal Credit and Commerce Bank, Nepal Bank Limited and Samina Bank.

Mega Bank Nepal witnessed the largest transaction volume in terms of number of shares with a total of 137,000 its shares traded during the review period.

During the last week, stock of 179 listed companies were traded. With the fall in market index, the transaction amount also observed a fall by 27.41 percent to close at Rs. 1.05 billion. The traded number of shares also declined to 3,945,760 units from a previous statistic of Rs 4,754, 520 units.

The post Nepal Stock Exchange July 22-28, 2018: Dip in Market Index appeared first on Nepali Sansar.

The Global Markets Exchange Group International LLP (GMEX) of London and a group of Non-Resident Nepalis (NRNs) have sought the Board’s approval for establishment of a commodity exchange in Nepal, informed SEBON.

The commodity exchange applied has been named as Nepal Commodity Exchange Limited and is the first such one since the passage of related act and regulations very recently in Nepal.

“The group has expressed interest to work as a strategic partner in the area. Following an assessment of the letter of intent, we will ask the group to submit an action plan,” says Rewat Bahadur Karki, Chairman, SEBO.

While there has been an absence of relevant regulations and legal framework to facilitate commodity trading, the new regulation allows any foreign company to become a strategic partner of any commodity exchange operator of Nepal, informed Niranjaya Ghimire, SEBO Deputy Spokesperson.

According to Ghimire, the aspiring foreign companies need to produce a valid operating licence and should at least hold a five-year experience in commodity exchange for the last five consecutive years. 

They will also have to produce a authentication certification from the host country they operate at.

Besides calling for ban on licenses of all firms involved in brokerage services in derivative-related transactions, SEBON has also barred brokerage firms from signing new contracts. 

SEBON is focused on tackling money laundering, ensuring automation in stock trading, encouraging foreign investment in the share market and increasing the number of remote work stations across rural areas of the country, says Kirki. 

The post Nepal Receives Proposal for First Commodity Exchange appeared first on Nepali Sansar.