MARKET RALLIES RAISES INVESTORS AND TRADERS CONFIDENCE; NEPSE GAINS 15.88 POINTS

Sharesansar, 2nd July:

The recent stock market rally has had positive rub-off effect on traders and investors, who are now accumulating more shares than before.

Going by the turnover history of Nepse, the figure has been continuously sustaining over Rs 400 million mark from last one month or so which is nearly double than corresponding period of last fiscal year.

In line with it, the benchmark index has also nearly gained double than its corresponding figure.

“As the market confidence has gain new height from recent rally, more and more shares are now being demanded by traders and investors,” says one of the brokers, “similarly the continuous bull run is also luring many new investors in the market which again is boosting the market.”

Attributed by such factors, the local bourse advanced by double digit figure of 15.88 points to settle at 972.88 level. Last time, the market index traded around this level was in October month of 2008.

Likewise, the market also observed massive transaction as the total turnover stood at Rs 745.31 million compared to Rs 648.45 million of yesterday.

Mostly, shares of banking, insurance and hydro sectors were heavily traded in the market today as the sub-groups covered 32 percent, 28 percent and 21 percent of total market turnover.

Similarly, the sub-indices increased by 6.66 points, 180.68 points and 87.24 points respectively. The anticipation of investment in insurance and hydro scrips post fiscal year end by banking and financial institutions continues to drive the share price of mentioned groups.

As for remaining sub-indices, Others, one of the heavyweight sub-index of market, inclined by 9.4 points following the increment in NTC by Rs 8, Hotels increased by 4.51 points, Development climbed 8.69 points and Finance gained 18.47 points.

All in all, the scrips of 137 companies were traded, out of which 100 scrips gained, 6 remained intact and 31 scrips lost.

The best performer for the day were, Citizen Investment Trust (CIT), closed at Rs 3,432, and Pathibhara Bikas Bank Limited (PBSL), closed at Rs 165, with 10 percent gain each i.e. Rs 312 and Rs 15 respectively. Whereas, Peoples Finance Limited. PFCL), closed at Rs 148, was the worst performer today with Rs 9 or 5.73 percent loss.

In terms of turnover, Arun Valley Hydropower Development Company Limited (AHPC), closed at Rs 481, had the highest turnover today. Altogether, 181,213 share units of AHPC were traded through 311 transactions worth Rs 82,013,831.

The broker with the highest standalone dealing of the AHPC was Broker No 6 (Agrawal Securities Pvt. Limited) with 43.39 percent totaling 160,150 shares trade amounting Rs 71,187,720 via 185 transactions, which include ten matching transactions tallying 40,400 share units worth Rs 17,777,200.