Amid growing confidence of investors, market bounces back 7 points
ShareSansar, September 15:
After a day Finance Minister Dr Ram Sharan Mahat expressed hope that the Nepal Stock Exchange (Nepse) will rise in the days to come, Nepse benchmark index bounced back 7.24 points to settle at 909.39 points.
The rise of the benchmark index after continuous daily downfall for past few days is taken as the indication of market recovery.
The market was on the freefall after Nepal Rastra Bank (NRB) has issued a confusing diktat regarding the one percent threshold on the ‘held-for-trading’ investment. Though the market had gone up substantially the next day the NRB issued clarification, the benchmark rarely ended in the green trajectory in last one month.
Today’s surge is attributed to the growing confidence among the investors following the positive comment from the Minister Mahat that the market will grow up.
Except Manufacturing and Processing group which shed 12.98 points, all groups observed gain today.
Insurance group went up highest by 85.74 points to close at 3,627.27 points.
Hotels group rose 38.69 points, the Development Bank posted 9.04 points, Banking 4.78 point,
Hydropower group 5.82 points and Finance group gained 3.44 points.
A total of 503,979 units of shares of 135 companies worth Rs 26.18 crore were traded in the market today through 2,753 transactions.
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