KATHMANDU, JANUARY 17
As the COVID-19 pandemic has hit the global economy and businesses have taken a downturn, the domestic share market seems to be taking advantage of the current situation.
Since many industries have shut shop, halted operations or are being partially operated, investors have turned towards the stock market. As a result, the secondary market, which is setting new records on a daily basis, also crossed the 2,300-point mark today.
The sensitive index too rose by 8.17 points to close at 443.42 points.
Meanwhile, among the subgroups at Nepse, banking increased by only 1.01 points.
Similarly, trading went up by 232.97 points, hotels by 16.87 points, development banks by 110.01 points, non-life insurance by 78.05 points, manufacturing and processing by 49.82 points, microfinance by 115.55 points, life insurance by 221.01 points and hydropower sub-index by 7.2 points.
Nepal Telecom was at the forefront in terms of transaction amount with shares worth Rs 581.01 million exchanging hands today. NIC Asia Bank and Civil Bank were at the second and third positions, respectively in this category.
Along with the increasing trading activities in the capital market, the number of Nepalis entering the share market has also increased significantly.
Although the number of people trading in the secondary market has not gone up much, the number of people opening demat accounts to file applications for IPOs is rising by the day.
According to CDS and Clearing Ltd, 72,011 people have opened demat accounts in the last one week. Till last year, around 2.4 million people had opened demat accou