Share market showing positive signs

KATHMANDU, APR 22:

" The raging bull in the stock market pushed the transaction volume up almost by double as the benchmark index shot up by 34 points this week –– April 16 to 19. 

The market that had opened at 319.95 points went to 354.78 points by the end of the week providing hope that the anemic performance of the stock market is over. The initial rise in stock prices had investors vying to buy shares before prices went further up. 

The whole week saw a tug of war between buyers and sellers, pulling and pushing the index. The continuous buy order pushed prices further up while investors wanting to cash in on the rising share prices flooded the market with stocks. 

On Tuesday, the index had even surged as high as 370 points before selling pressure drove the market down to 334 points. Though, the market has performed well due to the positive political development it is still worth waiting to see if the current bull run is sustainable or is just a flash in the pan. 

Nepse’s trading floor witnessed 6222 transactions of 1.1 million unit shares worth Rs 359.9 million belonging to 115 listed companies throughout the week in five trading days. The trading volume this week recorded a 180.73 per cent surge as compared to that of last week. 

Of the total transactions, trading of shares of class ‘A’ companies comprised 74.72 per cent of the total transactions with the transaction of the blue chip stocks worth Rs 262.2 million. The performance of class ‘A’ companies measured by the sensitive index improved by 8.53 points reaching 89.39 points at the end of the week. 

The indicator of the performance of actual shares traded –– float index –– also went up by 2.52 points to 28.46 points. 

All of the subgroups ended up in the green zone as stock prices skyrocketed in the week. Others subgroup, hydropower companies and commercial banks earned 48.16 points, 44.05 points and 42.71 points, respectively making up for losses since a long time. 

Bank of Kathmandu topped in terms of number of shares traded, trading volume and transactions with a trade of 166,646 unit shares worth Rs 86.7 million in 824 transactions. 

The top five performers of the week were Bank of Kathmandu (Rs 86.74 million), Everest Bank (Rs 31.21 million), Nepal Investment Bank (Rs 18.33 million), Chilime Hydropower Company (Rs 17.08 million) and Laxmi Bank (Rs 16.61 million). 

NDEP Development Bank’s 363,173 unit bonus shares were listed at the stock market.

Source: THT