Surge in NEPSE continues: Turnover above Rs 350 million
ShareSansar, Dec 15:
Surge in NEPSE continued on the second trading day of this week, as the benchmark index went up by 6.73 points or 0.74 percent sustaining above the psychological level of 900 mark index to close at 916.74, compared to yesterday’s 910.01 level.
The local bourse heightened up by more than 16 points up to intraday high of 926.79 level in the initial hour and then skipped down to the intraday low of 900.38 level at 1:05 PM. Thereafter it climbed uphill to 916.74 mark index at closing.
Buying route of investors, seeing the surge on Sunday, led the market index climb up high in the initial hour. However the market then faced downturn due to increasing in selling process by the investors who were holding their shares since the index was below 900 level.
The entry of opportunist investors later on led the benchmark recover itself from 900.38 to 916.74 level in the last couple of hours before closing.
“Market will be gaining more points and will remain above the psychological level of 900 in the coming days as the turnover has crossed the level of Rs 300 million and the practical implementation of loans against demat shares is yet to come”, said one of the active investors in the market.
The total turnover has settled above Rs 350 million to stand at Rs 357.23 million, recording the surge of Rs 74.88 million or 26.52 percent, compared to yesterday’s total of Rs 282.35 million.
Altogether 883,047 unit shares of 126 companies were traded today via 2,579 transactions amounting Rs 357.23 million.
Among the sub-indices, Banking, which covered more than 66 percent of total turnover, went up by 6.79 points or 0.84 percent, amid the increase in share price of Standard Chartered by Rs 57 and Everest Bank by Rs 34.
Insurance and HydroPower raised by double digit of 49.03 points and 12.04 points respectively, attributed by the increase in share price of Life Insurance by Rs 169, Rastriya Beema by Rs 94 and Chilime hydro by Rs 25.
Similarly Hotels, Finance, Manufacturing and Others increased by 6.88 points, 4.09 points, 5.59 points and 3.52 points respectively.
On the contrary, Trading and Development faced meager plunge of 3.21 points and 0.17 point respectively.
Development banks like Pacific Development, Miteri Development, Karnali Development and Malila Bikas Bank were among the top gainers of the day.
The turnover of Nepal Bank Limited stood high at Rs 73 million, as the bank is believed to move forward in future after being released from the control of NRB after 13 years.
