NEPSE colored green for 2 days in a row; index going up by double digit, are we looking at a sustainable rise?

The NEPSE index had gained 27.45 points yesterday and continuing the trend it has climbed further by 23.94 points or 1.95% today. The market had opened at 1,226.52 and quickly began to climb for the first hour or so and then dived around 15 points. However later it started to pick up the momentum and landed in green zone. The green in NEPSE’s page today can be the reverberation of the good news flowing in Financial Market lately. The provision for bringing in foreign loan is one. Second can be the meeting between investors, share brokers and Finance Minister, Dr. Khatiwada. The FM had ensured the related parties that they’ll be formulating necessary policies for sustainable development of Securities market. The similar optimistic vibe was also received from the Governor of Nepal Rastra Bank. Despite the climb in index, the total turnover yesterday wasn’t that high. However, today the market turnover has touched Rs 61.93 crore. Similarly,15.14 lakh unit shares were traded from 8,705 transactions. Nepal Insurance Co. Ltd (NICL) stood ahead in terms of turnover as more than 4.1 crore worth shares were traded. Similarly, Janata Bank Nepal (JBNL) stood at top in case of number of shares traded as 66 thousand unit shares were exchanged. Likewise, Tinau Development Bank (TNBL) was the top gainer of the day as it gained 9.04% on its price and closed at Rs. 205. And, Guheshowori Merchant Bank and Finance Co. Ltd. (GMFIL) was the top loser of the day losing 5.19% on its price. The sub-indices for all sectors inclined and landed in green zone. The Insurance sector was the top gainer of the day climbing 174.95 points.