NEPSE CONTINUES TO RALLY FOR STARIGHT NINTH TRADING DAYS; MORE THAN ONE BILLION WORTH TURNOVER

Sharesansar, 6th July:

Fuelled by the recent marvelous consecutive rallies, the investors’ and traders’ sentiment continue to sky rocket. In follow up to the prior week’s superb Bull Run, the benchmark index added further 13.49 points today.

With the gain, the local bourse is now inching towards the resistance of 1004.28 level which was set on 18th Sep of 2008. The Nepse index today closed at 986.34 level.

“Spur by the anticipation of pro market budget the market continues to gain healthy momentum,” says one of the investors. “As the budget is expected to address some of the issues related to secondary market, the overall market confidence is very upbeat.”

He further adds, “The budget is expected to set hydro as one of its primary areas, so lot of investors are very positive towards hydro scrips in recent days.”

Attributed by such sentiment the hydro sector has inclined by great heights in recent days, the sub-group today also inclined by 50.12 points.

Similarly, Insurance sub-group, another sub-index that has been making the headline because of its rapid growth, today also increased by three digit figure of 187.69 points.

As for  Banking, it added 2.14 points, Development increased by 7.59 points , Finance inclined by 5.6 points, Hotels advanced by 10.63 points and Others incremented by 27.02 points.

Likewise, owing to the mammoth transaction of NABIL Bank Limited Promotor Share (NABILP), closed at Rs 1565, worth Rs 834.25 million, the market turnover today crossed the threshold of Rs one billion for third time in its long history.

Altogether the market turnover today stood at Rs 1.51 billion in which Rs 822 million worth transaction of NABILP was carried out through manual trading, while rest was through general trading platform.

In general trading, Arun Valley Hydropower Development Company Limited (AHPC), closed at Rs 558, had the highest turnover today also. Overall, 91713 share units were of AHPC were traded through 230 transactions worth Rs 50,393,751.

The broker with the highest standalone dealing of the AHPC was Broker No 25 (Sweta Securities Pvt. Limited) with 8.24 percent totaling 15,131 shares trade amounting Rs 8,308,369 via 23 transactions, which includes one matching transaction of 2900 share units worth Rs 1,592,100.

All in all, the scrips of 146 companies were traded, out of which 100 scrips gained, 12 remained intact and 34 scrips lost.

The best performer for the day were, Sanima Mai Hydropower Ltd. (SHPC), closed at Rs 792, and Prudential Finance Company Limited (PICL), closed at Rs 143,  with 10 percent gain each i.e. Rs 72 and Rs 13 respectively. Whereas, Malika Bikash Bank Limited (MBBL), closed at Rs 205, was the worst performer today with Rs 8 or 3.76 percent loss.