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Monday, May 20, 2024

Increased stock market, attractiveness in non-life insurance sector

Business NewsIncreased stock market, attractiveness in non-life insurance sector
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kathmandu | The share market kicked off the week on a positive note, with an increase of 8.2 points on Sunday. This uptick pushed the Nepse index to 1974 points. The total trading volume for the day reached an impressive 3.15 billion rupees. Among the 245 actively traded companies, 127 witnessed price gains, while 111 experienced declines, with 7 maintaining stable prices.

In terms of sector performance, Finance, Hotel and Tourism, and Microfinance sectors saw decreases in their indices, whereas all other sectors observed upward movements. Notably, the Non-Life Insurance Group recorded the highest surge with a 2.6% increase. Last week, the Hotel sector had shown notable growth of 6.9%.

The indices for various sectors showed mixed results: Banking increased by 4 points, Development Banks by 42 points, Hydropower by 3 points, Life Insurance by 122 points, Non-Life Insurance by 272 points, Other sectors by 11 points, Business by 31 points, and Manufacturing Group by 93 points. Conversely, Finance decreased by 18 points, Hotel and Tourism by 126 points, and Microfinance by 57 points.

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Creative Microfinance saw a significant surge of 10% in its share price. Additionally, United Idiots Insurance increased by 7.5%, Himalayan Everest Insurance by 5.5%, Asian Life Insurance by 5%, Human Microfinance by 5.4%, Dolta Power by 4.5%, RSDC Microfinance by 4.4%, Soaltee Hotel by 3.6%, and NESCO Microfinance by 3.4% experienced declines in their share prices.

Based on transaction amounts, Sangrila Development Bank, Pokhara Finance, Sonapur Cement, Shivam Cement, and Nepal Insurance Company ranked as the top performers during the trading session.

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