Improved Q3 reports and expectations of timely implementation of online trading results to half-century market rally ; NEPSE index scaled to 1,438.49  points with astounding turnover of Rs 1.23 arba

Keeping track with the bullish trend of last few weeks, the benchmark index at Nepal Stock Exchange (NEPSE) has continued its phenomenal growth today by surging up by 50.18 points or 3.68% to close at 1,438.49 points.

Few reasons have been attributed for the charismatic growth in the market where the expectation among the general investors that NEPSE would stick to its commitment to kick-start online trading from the upcoming fiscal year had the major role to play. The ongoing period of Baisakh month when all the companies listed at NEPSE publish their Q3 report also had its share in the present growth as the market heavyweights such as commercial banks are publishing sound financial reports despite of several challenges prevalent in the financial scene.

The total turnover of the day stood above Rs 1.23 arba which is the highest single-day turnover for approx. a year now. More than 28.89 lakh unit shares were traded through 12,548 transactions which stood as backbone for today’s historic growth.

Shares of Kumari Bank Limited (KBL) stood ahead in terms of total turnover as more than Rs 5.39 crore worth of its shares were traded today. In addition, over 1.92 lakh unit shares of the same bank exchanged their ownership today making it the highest traded shares as well. investors were particularly glued towards KBL since it was the last day today to book the bank’s upcoming 20% right shares.

In terms of top gainers, all top ten most profitable institutions saw their price skyrocketed to positive circuit level. Prices of 4 companies in particular i.e. Scrips of (AKPL), (NMBMF), (RBCL) and (RBCLPO) whose value increased by 10% on a single day to Rs. 330, Rs. 1700, Rs. 13,915 and Rs. 13,469 respectively can be considered as joint top gainers.

Both the Sensitive and float index went up exponentially today by 10.08 points and 3.93 points respectively.

The sub-indices of all the trading groups registered massive growth today and landed in green. Insurance sector that gained 352.99 points out-performed all other sectors and stood as the top gainer. Microfinance which gained 100.23 points saw it as the second most profitable sector for the day.