NEPSE ESCALATES TO NEW 66 MONTHS’ HIGH
Sharesansar, 6th May:
Crossing yet another threshold of 850 level, the Nepse index today came to settle at 861.5 level which is 66 months’ high. Previously, the market index witnessed this level was back in 2nd November, when the local bourse was free falling from 1175.38 level.
The increase in the banking sub-index, one of the heavyweight sectors of Nepse, by double digit figure of 21.32 points along with insurance sector’a surge of 114.59 points mainly attributed in today’s market growth of 14.72 points.
In the midst of 28 banking scrips traded today, only two suffered meagre loss and one remain intact while rest made a healthy surge. Among the 25 gainers, 19 propelled by double digit whereas six scrips inclined by only single digit.
In addition, the overall turnover of banking to market today stood at 47.48 percent which in previous days’ it use to stand below 25 percent while the insurance sector turnover dipped to 15.14 percent from that of above 40 percent figures.
Following exaggerated surge in the insurance scrips, in terms of price and turnover, the investors are now slowly shifting towards banking scrips which can be justified by today’s transaction of banking scrips as among the top 20 scrips in terms of turnover, 13 were only banking scrips that too with uphill price while there was only one insurance scrip.
Revive of investors’ confidence towards banking sector has not only pushed the market up but has also brought down the temptation of investors towards inflated insurance sector to some extent.
Apart from it, the total market turnover has also increased by significant amount. The total turnover today stood at Rs 524,050,822 which is of nearly six months high, last time the market observed this kind of turnover was in 26th Dec, 2013.
Coming to the transition of remaining sub-indices, Development and Finance surged by 3.6 points and 1.04 points respectively.
Likewise Hydro inclined by 8.15 points while Hotels today suffered loss of 13.47 points. Along with hotels, Manufacturing and Others also dropped by 15.57 points and 11.75 points respectively.
Altogether there were trade of 131 scrips, among which 75 scrips gained, 6 scrips remained intact and 50 scrips suffered loss.
Global IME Bank Limited (GBIME ), Janaki Finance Ltd. (JFL) and Sewa Bikas Bank Limited(SEWA) were the best performers today with gain of 10 percent i.e. Rs 57, Rs 30 and Rs 29 respectively whereas Taragaon Regency Hotel (TRH), closed at Rs 366, was the worst performer with loss of Rs 28 or 7.11 percent.
Chilime Hydro power Co. (CHCL), which closed at Rs 1906, had the highest turnover among the traded scrips today. Overall, 20,240 units of CHCL were traded through 134 transactions worth Rs 38,522,563.
