NEPSE MAKES DOUBLE DIGIT RALLY to SETTLE at 584.07 LEVELS

ShareSansar, 20th October
    

Continuing its astounding performance, the market index today marked a double digit growth of 12.27 points after a gap of three months. Last time, the secondary market made such a hefty rally was in 21st July, 2013 totaling 14.19 months during which the political parties’ agreed to form the Chief Justice led government.

With today’s surge, the local bourse came to close at 584.07 level which is almost four years high. Similarly, today’s gain also pushed the market bullish rally to nine consecutive trading days. Previously, the market made such as gaining streak was in the month of April, last year.

Attributed by the excess liquidity, nearing first quarter report, low interest rate, building of the election environment along with other factors has helped to pave the way for such a jubilant scenario in the secondary market. In addition, the recent surge in the NEPSE index has further boosted the sentiment of the investors towards the market.

All in all, more and more investors are converging into the market in anticipation of better days ahead which have helped to fuel the NEPSE in recent days.

The market turnover today came to cross the Rs 100 mark to stand at Rs 145,798,355. Altogether, 332,172 units of shares were traded by 1,643 transactions. The market capitalization at the end of the day totaled at 592,358.74 Millions.

Among the sub-indices also, the performance was remarkable as all settled in the green zone. Hotels  sector dazzled with a  surge of 53.42 points. Similarly, Banking continued its streak with a leap of 15.8 points alongside 23.85 point gain of Development and 2.52 points growth of Finance.

Likewise, Hydro also mesmerized the market with an enormous leap of 52.3 points. Similarly,  Insurance also kept up its gaining momentum with a climb of 9.76 points alongside 3.53 points incline of Others and 0.06 increase of Manufacturing.

All in all, 88 scrips were traded, out of which 57 scrips gained, 12 remained intact and 19 scrips lost.

The best performer in today’s session was Soaltee Hotel Ltd. (SHL), closed at Rs 341, with a gain of Rs 31 or 10 percent whereas Neco Insurance Co. (NIL) , closed at Rs 150, was the worst performer for the day with a loss of Rs 16 or 9.64 percent.

The scrip with the highest turnover in today’s market was of Nabil Bank Ltd. (NABIL), closed at Rs 2150, with Rs 18,156,435 totaling 8,573 units which were carried out through 47 transactions.

The broker with the highest standalone dealing of the NABIL was Broker No 35 (Kohinoor Investment and Securities Pvt. Ltd) with 37.25%; amounting Rs 13,527,700 via 6 transactions totaling 6,434 units in which 2,957 units were carried out through one matching transaction tallying Rs 6,209,700.