NEPSE MAKES REMARKABLE BOUNCE BACK

Sharesansar, 24th  December:

Bouncing back from the recent correction, the stock index today produced rally of 8.48 points.

Following the series of downfall in NEPSE, the investors today opted to buy shares in current level rather than liquidating their position.

As the market has witnessed near to 5 percent decline within the last three trading days, followed by near to 20 points tumble in the initial phase of today’s session, the investors today shifted their mode from liquidating to buying.

In expectation of more bullish rally in the upcoming days like of prior weeks, the investors carried forward with their buying streak like that of the previous week, producing a superb bounce back of more than 30 points from the level near to 450.

Coming to the end of the day, the market settled at 777.2 points.

Similarly, following the benchmark index, most of sub-indices also closed in green terrain. Coming forth, Banking , Others and Insurance produced sound growth of 9.92, 17.62 and 10.57 points respectively.

As for Hydro and Finance, they maintained gain of  2.79 and 2.19 points respectively.While, Hotels dropped by 1.89 points and Development suffered loss of 0.22 points.

Alongside the positive transition of the market, the liquidity in the market also continued to remain in a healthy state as the total maket turnover  today tallied over Rs 500 million i.e. Rs 508,372,324; totaling 1,118,853 units of share which  were traded through 3,956 transactions. The market capitalization at the end of the day stood at Rs 789,449.82 Millions.

Altogether there were trade of 111 scrips, among which 67 scrips gained, 11 scrips remained intact and 33 scrips suffered loss.

The best performer among the traded scrips was Apex Development Bank Limited (APEX, closed at Rs 133, with a gain of Rs 12 or 9.92 percent. Whereas,  Prabhu Bikas Bank Limited (PRBBL) , closed at Rs 225, was the worst performer with loss of Rs 21 or 8.54 percent.

The scrips with the highest turnover in today’s trade was Nepal Bangladesh Bank Ltd.  (NBB), closed at Rs 636, with trading of 115,687 units worth Rs 71,589,667 via only 211 transactions.