Positive sentiments in the capital market are gaining grounds ahead of the Constituent Assembly (CA) polls slated for November 19.
The Nepal Stock Exchange (Nepse) continued its upward momentum, inching up 0.35 points to close at 600.42 points on Thursday from Wednesday’s 600.07 points, while the market turnover posted a single-day rise of 54 percent.
The market has been bullish for the last few days, with listed companies posting handsome profits and the certainty of the CA polls. The benchmark index has gained over 20 points over the last week, while the market turnover rose to Rs 464.33 million on Thursday from Rs 137.39 million a week ago. Along with the transaction volume, the number of shares traded also rose to 2,312,108 units on Thursday from 836,058 units on Wednesday.
On Thursday, the Others group was the highest gainer followed by Hotels, Insurance Companies and Development Banks. The Commercial Banks, Hydropower and Finance Companies witnessed downfall in their indices.
Anjan Raj Paudel, a stockbroker, said there was immense buying pressure on the last trading day before the CA election on Thursday. “However, the market could not rise as expected in the last hour as investors were comcerned about political changes after the election results,” he said.
Paudel said the trading of promoters’ shares of Surya Life Insurance pushed the overall market up. A total of 953,986 promoters’ shares of Surya Life worth Rs 104.93 million were traded on Thursday. With a transaction of Rs 42.06 million, Nepal Bank followed Surya Life in terms of transaction.
Himalayan General Insurance, Gaurisankar Development Bank and Grand Bank Nepal were among the losers for the day.
Source: ekantipur, 15-Nov-2013
The Nepal Stock Exchange (Nepse) continued its upward momentum, inching up 0.35 points to close at 600.42 points on Thursday from Wednesday’s 600.07 points, while the market turnover posted a single-day rise of 54 percent.
The market has been bullish for the last few days, with listed companies posting handsome profits and the certainty of the CA polls. The benchmark index has gained over 20 points over the last week, while the market turnover rose to Rs 464.33 million on Thursday from Rs 137.39 million a week ago. Along with the transaction volume, the number of shares traded also rose to 2,312,108 units on Thursday from 836,058 units on Wednesday.
On Thursday, the Others group was the highest gainer followed by Hotels, Insurance Companies and Development Banks. The Commercial Banks, Hydropower and Finance Companies witnessed downfall in their indices.
Anjan Raj Paudel, a stockbroker, said there was immense buying pressure on the last trading day before the CA election on Thursday. “However, the market could not rise as expected in the last hour as investors were comcerned about political changes after the election results,” he said.
Paudel said the trading of promoters’ shares of Surya Life Insurance pushed the overall market up. A total of 953,986 promoters’ shares of Surya Life worth Rs 104.93 million were traded on Thursday. With a transaction of Rs 42.06 million, Nepal Bank followed Surya Life in terms of transaction.
Himalayan General Insurance, Gaurisankar Development Bank and Grand Bank Nepal were among the losers for the day.
Source: ekantipur, 15-Nov-2013
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