NGAWANG JAMPHEL | Thimphu
The domestic stock market recorded mixed movement, with some listed companies making gains while others saw their share prices fall sharply, according to the latest market figures from the Royal Securities Exchange of Bhutan (RSEBL).
The Bhutan Stock Index (BSI) stood at 1,175.44, while the total market capitalisation was recorded at Nu 49.6 billion. The exchange has 18 listed scripts and nine brokerage firms.
The latest figures show that investor activity was spread across different sectors, although the performance varied considerably. Manufacturing remained the strongest-performing sector, with an index of 1,717.03, while the overall sector index stood at 1,180.63.
Insurance recorded an index of 88.71, followed by tourism at 80.66, distribution at 75.34 and publishing at 75.00. Banking and trading recorded much lower figures, at 0.87 and 0.11, respectively.
Among the stocks that gained, Druk Ferro Alloys Limited (DFAL) was the strongest performer in the stock highlights. Its share price increased by Nu 2.06, or 2.73 percent, to reach Nu 77.50.
The rise came as the company recorded the largest gain among the five stocks listed under the riser’s category.
Bhutan National Bank Limited (BNBL) also ended the trading period slightly higher. Its share price increased by Nu 0.04, or 0.16 percent, to Nu 25.04.
Similarly, Druk PNB Bank Limited (DPNB) gained Nu 0.03, or 0.12 percent, bringing its share price to Nu 24.91.
GIC Bhutan Reinsurance Company Limited (GICB) recorded a smaller gain of Nu 0.02, or 0.07 percent, closing at Nu 28.47. Bhutan Carbide & Chemicals Limited also edged up by Nu 0.01, or 0.01 percent, to Nu 125.31.
However, the market also witnessed considerable declines in several companies.
Kuensel Corporation Limited (KCL) recorded the largest percentage decline among the highlighted stocks. Its share price fell by Nu 4.50, or 15 percent, to Nu 25.50.
The fall in KCL was followed by a significant decline in Bhutan Ferro Alloys Limited (BFAL). Its share price dropped by Nu 6.75, or 6.44 percent, to Nu 98.09.
State Trading Corporation of Bhutan Limited (STCB) also saw its share price fall by Nu 1.68, representing a 4.51 percent decline. The company closed at Nu 35.60.
Meanwhile, Royal Insurance Corporation of Bhutan Limited (RICB) fell by Nu 0.50, or 0.71 percent, to Nu 69.50. T Bank Limited also declined by Nu 0.35, or 1.35 percent, closing at Nu 25.65.
Despite the mixed movement in share prices, trading activity remained high in some companies. BNBL recorded the highest trading volume among the stocks highlighted, with 78,874,885 shares.
RICB followed with 37,424,264 shares, while GICB recorded 9,235,221 shares. Bhutan Insurance Limited recorded 8,961,613 shares, followed by T Bank Limited with 5,595,615 shares.
The wider market data also provides a picture of how individual companies performed during the trading period.
BNBL remained one of the largest companies on the exchange by market value, with a market capitalisation of Nu 12.225 billion. Its price-to-earnings ratio stood at 30.91, with the stock trading at Nu 25.04.
Druk PNB Bank Limited had a market capitalisation of Nu 4.883 billion, while Druk Wang Alloys Limited stood at Nu 3.657 billion.
Bhutan Insurance Limited had a market capitalisation of Nu 3.136 billion, closely followed by GIC Bhutan Reinsurance Company Limited at Nu 3.132 billion.
Druk Ferro Alloys Limited, despite being among the day’s strongest gainers, had a market capitalisation of Nu 2.111 billion.
The market data also showed that several companies recorded no movement in their share prices. Bhutan Board Products Limited remained at Nu 12.50, while Bhutan Carbide & Chemicals Limited was recorded at Nu 144.00 in the broader market table.
Bhutan Insurance Limited remained at Nu 52.27, Bhutan Polymers Company Limited at Nu 36.00, and Bhutan Tourism Corporation Limited at Nu 550.00.
Dungsam Polymers Limited and Druk Wang Alloys Limited also recorded no change, with their share prices standing at Nu 9.52 and Nu 80.00, respectively.
Interestingly, Penden Cement Authority Limited (PCAL) recorded a 4.58 percent increase in the broader market data. Its share price rose by Nu 0.92 to Nu 21.00. The company recorded a market capitalisation of approximately Nu 1.257 billion.
The figures also showed varying levels of trading activity. BNBL recorded 531 trades, while DPNB recorded 764 trades, the highest number of trades among the companies listed in the market data. DPNB recorded a last-traded volume of 764 shares, with a last-traded value of Nu 17,731.35.
DFAL recorded 50 trades, with a last-traded value of Nu 3,500, while RICB recorded 159 trades and a last-traded value of Nu 8,725.13.
The contrasting movements highlight the uneven nature of trading in the domestic market. While some companies attracted strong investor interest and recorded gains, others came under selling pressure.
The performance of KCL was particularly notable, with its 15 percent decline making it the biggest percentage faller among the stocks highlighted. In contrast, DFAL emerged as the strongest gainer in the same category.
The figures also show that trading remains concentrated in a relatively small number of companies. With only 18 listed scripts, movements in individual stocks can have a visible effect on overall market sentiment and investor confidence.
The market’s performance on October 5 therefore presented a mixed picture. Some companies, including DFAL, BNBL, DPNB and GICB, ended higher, while KCL, BFAL, STCB, RICB and TBL recorded losses.
For investors, the figures underline the different performance of companies across sectors and the changing levels of trading interest in individual stocks. While the overall BSI remained at 1,175.44, the movement of individual companies showed that the market continued to experience both opportunities and risks.
