NEPSE on the BULL run; Soared up 23.63 points to close at 1,112.05 index, turnover almost 1 billion

ShareSansar, August 16;

Giving the momentum to 7 Years High, Nepal Stock Exchange Limited (NEPSE), the only stock market of the country, surged by 23.63 points or 2.17 % to finally close at 1,112.05 levels.

The total turnover stood today was of Rs 98.86 crores. The market capitalization of NEPSE has also above Rs 11.40 trillion amount.

Last year on July 21, 2014 the benchmark index went as high as a level of 1083.55 and made a low of 837.83 levels on May 27, 2015. In the last few months NEPSE tried several times to breach 1086 levels but all in vain. On last trading day (Thursday) finally with a huge turnover of Rs 69.61 crores, NEPSE happened to breached above mentioned resistance levels of 1083-86 index.

The benchmark index, which went on a freefall after the highest point of 1175.38 levels made on August 31, 2008, had witnessed 298.89 index on March 29, 2012.

The total turnover of the day is above Rs 98.86 crore. Sensitive and Float index gained 6.25 points and 1.28 respectively.

Except Development Banks, Finance and Insurance sector, Indices of the all the groups posted gains. The Others group went up by 39.94 points, leading the gainers’ list. It was followed by commercial banks, which was up by 32.79 points.

From tomorrow more than 65 companies’ shares will be traded mandatorily in Demat form. It includes all the existing 30 commercial bank shares.

There is a huge chance that due to short supply of Demat shares market may witness less supply from tomorrow, which ultimately will give momentum to ongoing Bull Run.

NEPSE is only 63 points behind breaching all time high of 1175.38 index of August, 2008 AD.

Market Update: NEPSE gains 18.03 points to trade at 1,106.45 index till 1:30 PM