NEPSE Witnessed Huge Gain of 43.27 Points On 2nd Last Trading Day of Dashain Break; New Brokers Performing Well

In today's trading session, the Nepal Stock Exchange (NEPSE) witnessed a robust performance, with the NEPSE Index closing at 1,907.89 points. This marked a notable gain of 43.27 points, or 2.32%, compared to the previous day's closing. It's worth highlighting that the index had already shown promise by registering a gain of 13.18 points on the last trading day. Today's significant upswing can be attributed to several key factors.

Firstly, as the second last trading day before the Dashain break, the quarter-end pressure has substantially diminished, providing a more favorable trading environment. Moreover, a crucial influence on the market has been the recent decrease in interest rates by a substantial number of banks. This has had a notable impact on the market dynamics, as the interbank interest rate now stands at 1.99, which is low below the saving interest rate given by the BFI's. Additionally, the CD (Credit-Deposit) ratio is also relatively low, currently standing at 81.81%, indicating the availability of ample liquidity in the market. 

Also, the decision to reduce broker commission by 10% has fuelled the confidence among investors which led to create more demand in the market. 

Notably, the contribution of new brokers cannot be overlooked. Today, one of the new brokers, Sharepro Securities Broker no. 65, delivered an impressive performance, securing a notable position in the market, specifically at the seventh position. This accomplishment highlights their strong influence and success in today's trading session. Below is the screen shot of top 10 brokers in terms of highest turnover in the market. 

The trading started with the index opening at 1,864.28 hitting an intraday low of 1,864.25, whereas the intraday high was 1,908.40.

During today's trading, there were 286 different stocks traded in 31,788 transactions. The volume of shares traded amounted to 3,772,023 units with a total turnover of Rs. 93.48 Crore. Market capitalization stood at Rs. 29.27 Kharba, with a float market capitalization of Rs. 10.27 Kharba.

Sanima GIC Insurance Limited (SGIC) had the highest turnover, reaching Rs. 4.46 crores, and closed at a market price of Rs. 434.00.

Similarly, Asha Laghubitta Bittiya Sanstha Ltd (ALBSL) showed the highest gain of 10%, followed by Infinity Laghubitta Bittiya Sanstha Limited (ILBS) with a gain of 9.97%.

On the flip side, BPW Laghubitta Bittiya Sanstha Limited (BPW) showed the highest loss at 4.62%.

In terms of sector indices, all sectors closed green with "Non-Life Insurance" gained the highest 2.87%. Meanwhile, "Mutual Fund" gained the least of 0.38%.