NEPSE closed above the psychological level of 900; Surges 4.52 percent
ShareSansar, Dec 14:
The benchmark index of Nepal Stock Exchange (NEPSE) crossed the psychological level of 900 to close at 910.01 level with the boom of 39.38 points or 4.52 percent, compared to last week’s closing of 870.63.
There was continuous growth in index up to four percent and market remained stable thereafter to close up by 4.52 percent, which shows investors are stepping in market rationally.
NEPSE has surged with this huge almost after 3 months, where the last time surge was recorded of 44.5 points on 9th of September this year.
Sensitive and Float has also rise by 9 points and 2.59 points or 4.79 percent and 5.1 percent.
The speculation of the major political parties in the country reaching to the common floor of having 8 to 9 federal state in the country boomed the confidence among the investors, lead share market’s benchmark NEPSE to breach four percent in intraday transaction.
Although the local bourse increased by four percent, market wasn’t halted for its growth. According to the NEPSE rule, market halts for 15 min if there is more than 3 percent growth in index within initial hour, and for half an hour if it breaches 4 percent in the second hour. Five percent growth in index will lead market to shut down for the entire day.
Even the turnover has heightened up by more than 50 percent or Rs 96 million, compared to last week’s total of Rs 185.51 million to settle at Rs 282.35 million. Altogether 1,071,345 unit shares of 124 scrips were traded thru 2,210 transaction worth Rs 282.35 million.
Today was the green day for all the sub-indices. Banking, which covered almost 60 percent of total turnover, surged by huge 43.5 points or 5.68 percent to close at 809.65, amid the increase in share price of banks like NABIL by Rs 145, Everest Bank by Rs 135, Standard Chartered by Rs 73, Siddhartha Bank by Rs 55 and NIC Asia by Rs 41.
Hotels, HydroPower and Insurance went up by triple digits of 142.06 points, 144.03 points and 155.84 points respectively. Rise in the share price of Chilime Hydro by Rs 115, Citizen Investment by Rs 91 and Soaltee Hotel by Rs 43 led the surge in their respective sub-indices.
Similarly, Development and Finance gained 18.73 points and 4.93 points or 2.88 percent and 1.06 percent respectively.
Others and Manufacturing were lifted up by 14.1 points and 9.08 points respectively.
The share price of Garima Bikas, kalinchowk Development, Himalayan Distillery, Soaltee Hotel and malika Bikas Bank zoomed maximum today.
Whereas Prudential Insurance, Mount Makalu, ICFC Finance, Everest Finance and Namaste Bittiya Sanstha were on the top among the very few losers of the day.
