Nepal Stock Exchange (Nepse) index climbed to five years and three months high of 814.56 points on Tuesday.
After normal fluctuations over the past two months, the benchmark index logged double-digit gains, 10.83 points, on the day and crossed the 800-point mark second time in the past five years.
The benchmark index had closed at 815.63 points on November 12, 2008. However, the market had entered a bearish phase in subsequent days, plunging to 292.31 points on June 15, 2011.
The country´s only bourse starting posting gains after the country headed toward the Constituent Assembly (CA) poll which was held on November 19 last year. It had closed at 806.8 points on December 18, 2013.
Anjan Raj Poudel, former president of Stock Brokers Association of Nepal, attributed bullish trend in Nepse to positive political developments. “There was an upward trend in the market immediately after the CA polls. Later, it went into the correction mode,” Poudel said, adding, “Despite correction, the market observed a healthy trading.”
Stock investors were buoyed by the Nepali Congress´ decision to vote in favor of CPN (UML) leader Subash Chandra Nembang for the post of CA Chairman, hoping that it would end political bickering over cabinet expansion.
Poudel predicted that the market would continue the momentum if cabinet takes complete shape in the days to come.
“The money of many investors is stuck in the IPO of Century Bank. Once it is refunded, investors will inject it again into the secondary market. This will help the market to grow further,” he added.
However, Raj Kumar Timilsina, acting president of Nepal Investors´ Forum, said the growth will be sustainable only if the primary groups log gains. “Tuesday´s rise is positive. If the banks, finance and development banks groups post gain like the hydropower and insurance groups, the growth will be mature and durable,” added Timilsina said.
The Insurance group was the biggest gainer of the day, as its sub-index increased by 134.07 points to close at 2,735 points on Tuesday. The Banking group, which is considered a heavyweight trading group in the secondary market, grew by only 6.14 points to settle at 763.22 points. The Hotels, Hydropower and Finance sub-indices went up by 34.59 points, 26.13 and 11.96 points, respectively, to settle at 1,420.21, 2,067.8 and 392.73 points. There was no changes in the Others, Trading and Manufacturing, and Production groups on the day.
A total of 819,114 units of shares of 131 companies worth Rs 309 million changed hands through 2,787 transactions on Tuesday.
source: republica,18 feb 2014
LINK
After normal fluctuations over the past two months, the benchmark index logged double-digit gains, 10.83 points, on the day and crossed the 800-point mark second time in the past five years.
The benchmark index had closed at 815.63 points on November 12, 2008. However, the market had entered a bearish phase in subsequent days, plunging to 292.31 points on June 15, 2011.
The country´s only bourse starting posting gains after the country headed toward the Constituent Assembly (CA) poll which was held on November 19 last year. It had closed at 806.8 points on December 18, 2013.
Anjan Raj Poudel, former president of Stock Brokers Association of Nepal, attributed bullish trend in Nepse to positive political developments. “There was an upward trend in the market immediately after the CA polls. Later, it went into the correction mode,” Poudel said, adding, “Despite correction, the market observed a healthy trading.”
Stock investors were buoyed by the Nepali Congress´ decision to vote in favor of CPN (UML) leader Subash Chandra Nembang for the post of CA Chairman, hoping that it would end political bickering over cabinet expansion.
Poudel predicted that the market would continue the momentum if cabinet takes complete shape in the days to come.
“The money of many investors is stuck in the IPO of Century Bank. Once it is refunded, investors will inject it again into the secondary market. This will help the market to grow further,” he added.
However, Raj Kumar Timilsina, acting president of Nepal Investors´ Forum, said the growth will be sustainable only if the primary groups log gains. “Tuesday´s rise is positive. If the banks, finance and development banks groups post gain like the hydropower and insurance groups, the growth will be mature and durable,” added Timilsina said.
The Insurance group was the biggest gainer of the day, as its sub-index increased by 134.07 points to close at 2,735 points on Tuesday. The Banking group, which is considered a heavyweight trading group in the secondary market, grew by only 6.14 points to settle at 763.22 points. The Hotels, Hydropower and Finance sub-indices went up by 34.59 points, 26.13 and 11.96 points, respectively, to settle at 1,420.21, 2,067.8 and 392.73 points. There was no changes in the Others, Trading and Manufacturing, and Production groups on the day.
A total of 819,114 units of shares of 131 companies worth Rs 309 million changed hands through 2,787 transactions on Tuesday.
source: republica,18 feb 2014
LINK
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