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. 

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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.

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41.813 million shares of 215 companies were traded in the stock exchange through 147,492 transactions. Despite the total transactions amounting to NPR 14.768 billion, the benchmark index dipped 0.04 percent or 1.200 point fall, settling at 2,815.40.

The index fell 0.06 percent or 0.28 points, ending 503.71 points. Sympathetically, the float index lost 0.13 percent or 0.24 points to 193.43 points.

The biggest loser was microfinance sector. The sector’s index nosedived by 191.69 points or 3.41 percent to 5,435.06 points. This loss was due to Nepal Rastra Bank’s tightening the financial institutions’ secondary market investment rules and regulations.

Earlier this week, NRB curtailed banking and finance institutions (BFI) from investing bin “D” class financial institutions. Microfinance enterprises come under the D class institutions. The Nepali central bank also restricted BFI from short-term stock trading. The BFI sectors are to hold the shares and debentures for a year before trading them.

Tingeing this record turnover was gained experienced by the industries in the hydropower sector. Khani Khola Hydropower, United Modi Hydropower, and Nepal Hydro Developers led the pack of winners.

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However, the Nepse Index has witnessed a steep fall as soon as it resumed the operations. The transactions plunged by 25.30 points (2.02%) to settle at 1,226.15 points by 12:24 pm, leading to the suspension of trading for the day.

Around 87 companies have conducted 292 transactions to sell a total of 106,312 shares worth NPR 104.3 million in a trading session of one hour.

Meanwhile, Sensitive Index also plummeted by 5.39 points (1.99%) to settle at 265.67 points while Float Index slumped by 1.82 points (2.06%) to settle at 86.74 points.

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Stockholders of insurance companies have incurred biggest loss in the stock market today.

• Non-life insurance: Plunged by 524.73 points (7.46%) to 6,508.07 points
• Life insurance subgroup: Plunged by 690.31 points (7.45%) to 8,576.39 points

Meanwhile, the trading sub-group has not registered any transactions today.

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Among the listed companies, the Himalayan Bank has witnessed the highest drop in share value of 3% to close at NPR 485.

Nepal Stock Exchange Share Prices

Source: Nepalstock.com

“since most investors are in a wait-and-watch mode and banks and financial institutions are also not fully functional, the market remained southbound,” said Nepal Pujibazar Laganikarta Sangh Chair Radha Pokharel.

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As the reports say, Nepal Stock Exchange (NEPSE) has failed to launch the online trading system even after the announcement, almost a year back in July 2017.

Insufficient preparation is being cited as the reason behind not bringing the fully-automated electronic trading system of shares, in the secondary market, to live.

“We are going to introduce the fully-automated online trading system of shares to make the secondary market more systematic, effective and investor-friendly. But it will take a few months more to implement the system,” says Murahari Parajuli, Nepse Spokesperson.

According to Parajuli, it will take few more months to bring the system to a fully operational status, majorly because of some pending issues associated with the software that runs the system.

“Works to launch the electronic trading system are still ongoing. The software that will be used for the online system has 16 components, which include pre-trading, trading, and post-trading provisions. Tests for components like order placements and new listings are being carried out,” he adds.

The announcement related to the introduction of the online trading system in Nepal was made in July 2017, with an intention to replace the existing semi-automated system used for stock trading.

The new system is expected to bring in more investors to buy or sell their shares in Nepali stock market. The system had its initial deadline in mid-November 2017, which did not materialize.

It’s time Nepse should act fast to give a new hope to the country’s trading system and its traders.

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