STOCK MARKET BREACH PREVIOUS WEEK’S HIGH

Sharesansar, 9th June:

Backed by yesterday’s incline, the stock market of Nepal today surged by 2.05 points to 855.21 level. With the incline, the market index breached last week high of 884.7 level to sustain new 66 months’ pinnacle.

After prior day’s bounce back the market sentiment became much stronger as the demand for the listed shares were high from the beginning of today’s session.

“The market is back on track once again,” says one of the investors, “after yesterday’s rebound the traders and investors are once again starting to accumulate shares.”

Another investor adding voice to previous remark says that the outlook of the market is on the brighter side now. He adds, “The daily massive turnover backed by the demand in banking scrips is a very good indication for upcoming days.”

Following the resumption of trading from all listed brokers- six brokers were suspended yesterday- the market turnover witnessed drastic surge. Crossing the previous day’s threshold of 382.02 million, the total turnover today stood at Rs 465.90 million.

Of the stated turnover, more than 60 percent was covered by banking sector alone today.

Banking sector today added further 4.54 points to its tally. Similarly, Finance also increased by 10.46 points while Development dropped by 3.34 points.

 Likewise, Manufacturing and Others also suffered loss of 4.57 points and 16.45 points respectively.

As for, Hotels, it incremented by 27.88 points followed by Hydro and Insurance with 12.58 points and  11.77 points gain respectively.

All in all, the scrips of 140 companies were traded, out of which 69 scrips gained, 14 remained intact and 57 scrips lost.

The best performer for the day was, Neco Insurance Co. (NIL), closed at Rs 301, with Rs 27 or 9.85 percent gain. Whereas, Kaski Finance Limited (KAFIL), closed at Rs 183, was the worst performer with Rs 15 or 7.58 percent loss.

In terms of turnover, Nepal Credit And Com. Bank (NCCB), closed at Rs 528, had the highest turnover today. Altogether, 95,070 share units of NCCB were traded through 188 transactions worth Rs 49,532,944.

The broker with the highest standalone dealing of the NCCB was Broker No 56 (Sri Hari Securities Pvt. Ltd.) with 22.95 percent totaling 43,599 shares trade amounting Rs 22,735,767 via 55 transactions, which include two matching transaction tallying 5,920 share units worth Rs 3,078,400.