NEPSE SETS NEW 66 MONTHS’ HIGH

Sharesansar, 28th May:

The Benchmark index today breached the previous 66 months’ high of 866.25 levels, which was set on 5th May of this fiscal year, to settle at 866.57 level.

Previously, the market index witnessed this level was back in 2nd November, 2008, when the local bourse was free falling from 1175.38 level.

The expectation of pro market budget from the government mainly propelled the market confidence to new height today.

“The government is very positive about introducing transaction tax by replacing the existing capital gain tax to facilitate share trading. We are expecting to announce this through the upcoming budget,” a senior official with the Ministry of Finance told ShareSansar today, but could not give details as it is still being considered by the Revenue Consultative Committee under the ministry.

As the government in the upcoming budget is likely to announce securities transaction tax based on traded amount instead of the existing capital gain tax, the investors are positive towards reduction in the cost of investment.

In addition to it, the government is also expected to open direct investment of the Non-Resident Nepalis in the stock market.

The proposed Foreign Investment Policy, which will be tabled for parliamentary deliberation once the House session begins on May 30, also envisages letting NRNs directly invest in the stock market.

 Fuelled by development, the market witnessed buying spree in most of the listed shares throughout the day which attributed to 10.05 points growth.

Most of the investors today accumulated insurance and hydro sectors’ scrips which attributed to massive double digit incline of 75.83 points and 82.4 points respectively. Hotels sector’s shares also experienced a healthy demand which led to rise of 9.24 points in the sub-index.

Similarly, banking scrips too witnessed upbeat performance which helped to propel the sub-group by massive 7.17 points. Likewise, Development incremented by 1.44 point whereas Finance decreased by 0.08 point respectively.  As for Others, it increased by 2.35 points.


All in all, the scrips of 144 companies were traded, out of which 73 scrips gained, 17 remained intact and 54 scrips lost.

The best performer for the day was, Sahayogi Vikas Bank (SBBLJ), closed at Rs 540, with Rs 40 or 8.00% gain. Whereas, Everest Finance Ltd (EFL), closed at Rs 156, was the worst performer today with Rs 17 or 9.83% loss.

While, Chilime Hydro Power Co.(CHCL), which closed at 2290, continued to rule the day as the scrip today also had the highest turnover. Altogether, 28,691 units of shares were traded through 197 transactions worth Rs 64,611,803.

The broker with the highest standalone dealing of the CHCL was Broker No 45 (Imperial Securities Co .Pvt.Limited) with 8.75 percent totaling 5,004 shares trade amounting Rs 11,318,508 via 29 transactions, which include three matching transactions tallying 282 shares units worth Rs 626,604.

The market turnover today stood at Rs 415,770,176, with total number of shares traded at 1,191,908 units which were traded through 2,916 transactions. The market capitalization at the end of the day stood at Rs 883,957.18 Millions.