NEPSE surges by double digit despite massive drop in turnover

Nepal Stock Exchange Limited (NEPSE) Index has gained 11.52 points today (0.80%) to close trading at 1458.97. It had lost 0.46% on the last trading day (January 8, 2017). Although the market has increased by double digit, total transaction amount stood at just Rs 26.45 crore. Today, Nepse Index opened at 1447.45 points and after that it was seen in an upward trend. 33,106 units of Civil Bank Limited (CBL) and 31,046 units of Kumari Bank Limited (KBL) were traded the most today. Nepal Life Insurance Company (NLIC) had the highest turnover of over Rs. 2.88 crore with 10,638 units shares traded. The total turnover of the day stood above Rs 26.59 crore where only 4.35 lakh unit shares were traded through 2,493 transactions. NB Insurance Company (NBIL) and Karnali Development Bank (KRBL) hit positive circuit today as well. Mahalaxmi Bikas Bank Limited (MLBL), which resumed transaction today only after merger, lost the most today. Ngadi Group Power Limited (NGPL) and Arun Finance (ARUN) also were among the top losers today. Sensitive and float index increased by 2.64 and 0.82 points respectively. All the sectors except Hotels and Development Banks ended in Green. Insurance sub-index increased by 147.83 points.