The Constituent Assembly (CA) election had a positive impact on the stock market, with the Nepal Stock Exchange index gaining a whopping 33.88 points within a single trading day to close at 634.3 points.
Due to public holiday, trading took place only on Thursday last week.
Nepse had to impose circuit breaker thrice after the market witnessed excess single-day gain. Circuit breaker is imposed when the market gains or losses more than 3 percent, 4 percent and 5 percent.
Pralhad Kumar Oli, managing director of Pragyan Securities, said the market surged mainly due to the “democratic alliance” securing high number of seats in elections. “Investors’ hope for a favourable political situation following the CA polls helped the market to grow,” he said, adding the market could rise further if the political situation remains normal.
Ram Chandra Bhattarai, director at Aryatara Investment and Securities, said the resurgence of political parties that have favoured the free market helped boost the market. “Investors seek favourable political situation while investing in the capital market,” said Bhattarai, denying the possibility of a downfall of the stock market due to the Maoists’ protest against the vote counting process.
Six out of nine trading groups posted gains. The groups represented by insurance companies (up 78.36 points) led the gainers side, followed by hydropower companies (up 65.89 points),
others (up 51.68 points), commercial banks (up 38.42 points), finance companies (up 3.5 points) and development banks (up 2.93 points).
The sensitive index, which measures the performance of A class companies, also was up 8.6 points to close at 150.14 points.
All of the 55 companies, whose shares were traded on the day, posted gains. Nabil Bank topped in terms of transaction worth (Rs 24.89 million), followed by Nepal Bangladesh Bank, Nepal Investment Bank, Nepal Credit and Commerce Bank and Janata Bank Nepal.
A total of 202,698 shares worth Rs 102.63 million were traded last week. The market capitalisation surged by over Rs 35 billion to Rs 643.46 billion.
source:the kathmandu post,24 Nov 2013
LINK
Due to public holiday, trading took place only on Thursday last week.
Nepse had to impose circuit breaker thrice after the market witnessed excess single-day gain. Circuit breaker is imposed when the market gains or losses more than 3 percent, 4 percent and 5 percent.
Pralhad Kumar Oli, managing director of Pragyan Securities, said the market surged mainly due to the “democratic alliance” securing high number of seats in elections. “Investors’ hope for a favourable political situation following the CA polls helped the market to grow,” he said, adding the market could rise further if the political situation remains normal.
Ram Chandra Bhattarai, director at Aryatara Investment and Securities, said the resurgence of political parties that have favoured the free market helped boost the market. “Investors seek favourable political situation while investing in the capital market,” said Bhattarai, denying the possibility of a downfall of the stock market due to the Maoists’ protest against the vote counting process.
Six out of nine trading groups posted gains. The groups represented by insurance companies (up 78.36 points) led the gainers side, followed by hydropower companies (up 65.89 points),
others (up 51.68 points), commercial banks (up 38.42 points), finance companies (up 3.5 points) and development banks (up 2.93 points).
The sensitive index, which measures the performance of A class companies, also was up 8.6 points to close at 150.14 points.
All of the 55 companies, whose shares were traded on the day, posted gains. Nabil Bank topped in terms of transaction worth (Rs 24.89 million), followed by Nepal Bangladesh Bank, Nepal Investment Bank, Nepal Credit and Commerce Bank and Janata Bank Nepal.
A total of 202,698 shares worth Rs 102.63 million were traded last week. The market capitalisation surged by over Rs 35 billion to Rs 643.46 billion.
source:the kathmandu post,24 Nov 2013
LINK
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