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Insurance sector drives market beyond 1400 index signalling bullish trend; turnover of Rs 1.26 arba at almost 4-months high

- ShareSansar, March 20, 2017  on Featured , Latest , NEPSE News , Stock Market
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The benchmark index at Nepal Stock Exchange Limited (NEPSE) went up by 42.19 points or 3.05% to close at 1,424.38 points today.

Today, NEPSE Index opened at 1,382.17 points, and the local bourse was seen was seen in upward trend throughout the day.

index

416,418 unit shares of National Hydropower Company Limited (NHPC) and 347,309 unit shares of Prabhu Bank Limited (PRVU) were traded most today. Top gainers list was dominated by insurance companies with 27 companies hitting positive circuit today.

The total turnover of the day stood above Rs 1.26 arba where more than 25.27 lakh units shares were traded through 8,122 transactions.  This is the highest turnover since December 1, 2016, when stocks worth Rs 1.20 arba were traded.

Sensitive and float index went up by 9.22 and 3.16 points respectively.

Except Manufacturing & Production, all sectors in NEPSE landed in green. Sub-indices of Insurance surged by 566.83 points or 8.55%.

Technical Viewpoint

Based on today’s transaction, technical analysts say that turnover above Rs 1 arba and index crossing 1,400 benchmark might signal bullish trend in the coming days. This has also provided a positive sentiment to all investors who were waiting for the index to cross 1,400 points.

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