The first trading day of the week started strong for Nepal’s stock market. The NEPSE index went up along with a sharp rise in total trading volume, giving investors new energy.
On Sunday, the NEPSE index climbed by 30.75 points to close at 2631.14. Along with this rise, market turnover also jumped. Compared to Thursday’s transaction worth Rs. 7.51 billion, Sunday’s market saw trades worth Rs. 9.20 billion.
The major push came from a large deal involving Himalayan Bank’s promoter shares previously held by Habib Bank, which were bought by National Life Insurance. This single transaction contributed a huge amount to the day’s total turnover. Himalayan Bank’s 14,006,217 shares were traded, worth around Rs. 1.66 billion.
Out of 13 sub-indices, 12 increased while only one declined. The finance subgroup showed the highest growth, rising by 5.17%. The life insurance subgroup also jumped by around 4.5%. Other sectors like hotels, hydropower, microfinance, non-life insurance, and others also gained over 1%. The only losing sector was the trading subgroup, which dropped by 1.10%.
A total of 205 companies saw their share prices rise, while 42 declined. Six stocks hit the positive circuit level on Sunday, including Community Microfinance, Gorkhas Finance, Panchakanya Mai Hydropower, Peoples Power, Tehrathum Power, and Guheshwori Merchant Bank & Finance.
Among the top gainers, Unnati Sahakarya Microfinance’s share price jumped by nearly 10%, and Narayani Development Bank rose by 8%. On the losing side, Khani Khola Hydropower recorded the biggest drop of 4.76%.
By transaction volume, Himalayan Bank’s promoter shares topped the list with Rs. 1.66 billion worth of trades. Union Hydropower followed with trades worth around Rs. 340 million, and Butwal Power Company exceeded Rs. 250 million.
National Life Insurance Buys Habib’s Shares in Himalayan Bank
A major deal took place as National Life Insurance officially bought Habib Bank’s promoter shares in Himalayan Bank. The transaction happened after Nepal Rastra Bank approved their earlier agreement made in the first week of Bhadra.
On Sunday, 14,006,217 shares were traded at Rs. 118.88 per share, totaling around Rs. 1.66 billion. Earlier, on Thursday, 14,006,230 shares were traded at almost the same value. National Life Insurance had agreed to buy Habib Bank’s 28,012,448 shares in total at Rs. 112.80 per share, but the final purchase was made at Rs. 118.88 per share.
With this deal, Habib Bank has officially sold its 12.93% ownership in Himalayan Bank to National Life Insurance, marking its exit from the bank’s ownership.
