NEPSE finally shows green; Nepal Investors Forum’s step brings confidence in the investors

The market showed phenomenal improvement today. NEPSE index had declined by 51 points yesterday, but today it has gained 39.16 points or 3.35%. It had been a long time since the market had seen green. The drop in the index yesterday wasn’t normal too. The fall was somehow associated to the statement made by the Finance Minister at Biratnagar. In addition, the Nepal Investors Forum had organized a press statement yesterday giving an ultimatum to the authoritative bodies. The ultimatum comprised 19 points demands and 7 days to answer them and in case of non-compliance strike would be announced. However, when today started with a new sunrise things started to look better. The current market issue was addressed in the Parliament, which has improved the sentiments of the investors. Similarly, the publication of Shwet patra has also created a positive impact on the market. The market had opened at 1,168.55 and within 1 hour 50 minutes the index dived by 34.92 points, however after that it swiftly started to climb by around 48 points and finally landed in the green zone closing at 1,207.71 points. Total turnover worth Rs 51.15 crore was witnessed during the trading hours as more than 15.46 lakh unit shares were traded in the whole day. 7,206 transactions were carried out. These numbers show a healthy incline in the market. Nepal Life Insurance Company (NLIC) stood ahead in terms of turnover as more than 10.1 crore worth shares were traded. Similarly, Nepal Bank Limited (NBL) was the top in case of number of shares traded as 69.03 thousand unit shares were exchanged. Likewise, NMB Microfinance Bittiya Sanstha (NMBMF) was the top gainer of the day as it gained 10% and closed at Rs. 117. And, Janaki Finance Limited (JFL) was the top loser of the day losing 3.8% on its price. The sub-indices for all sectors except Trading inclined and landed in green zone. Insurance sector gained the most by climbing 293.86 points.