The stock market surpassed 860 points today, as investors drawn by the ongoing rally fuelled share prices. Nepal Stock Exchange (Nepse)’s index surged by 14.72 points or 1.73 per cent over the day to rest at 861.5 points by the time the market closed. The index was this high back in October 27, 2008 — 66 months ago.
Yesterday, the benchmark index had reached a similar five-and-a-half year high as investors took to banking stocks, while retreating from insurance companies. Today, till the first half of the trading day, investors continued to shake off insurance stocks in favour of bank stocks. However, in the second half, lowered price of insurance stocks attracted investors again.
By the end of the day, the insurance subgroup registered a gain of 114.59 points or 3.23 per cent as LIC Nepal earned Rs 105 per unit. Likewise, Nepal Life Insurance that began the day at the dividend-adjusted price of Rs 3,390 closed at Rs 3,656 per unit by the time the market closed. Following the book closure of Nepal Life Insurance on Sunday, Nepse today adjusted the insurer’s price at par with its 70 per cent stock dividend, which, apparently, brought down its price from Rs 5,650 to the adjusted price.
“After book closure, Nepse adjusts the price of stocks by the amount of bonus shares to be distributed, which naturally brings down the stock price,” pointed out Bharat Ranabhat, managing director of Kohinoor Investment and Securities — Broker No 35.
Along with insurance, the banking subgroup also continued its double digit jump. The subgroup rushed up by 21.32 points that translates to 2.87 per cent on gains made by banks such as Nabil and NIBL, which earned Rs 70 and Rs 34, respectively, among others.
“Orders for banking stocks have also increased in the past few days with investors being attracted to banks once again,” he added.
The share prices of Oriental Hotel and Taragaon Regency Hotel suffered losses of Rs 30 and Rs 28 per unit, pulling the hotel index down by 13.47 points. Likewise, Nepal Telecom also declined by Rs 10, which brought the others subgroup down by 11.75 points or 1.5 per cent.
Along with the share prices, the market turnover also recorded a high of Rs 584 million today. Yesterday, the market had undertaken orders worth Rs 502 million. The total market capitalisation reached Rs 878 billion today — up by Rs 14.5 billion in a single day.
source:the himalayan times,6 may 2014
LINK
Yesterday, the benchmark index had reached a similar five-and-a-half year high as investors took to banking stocks, while retreating from insurance companies. Today, till the first half of the trading day, investors continued to shake off insurance stocks in favour of bank stocks. However, in the second half, lowered price of insurance stocks attracted investors again.
By the end of the day, the insurance subgroup registered a gain of 114.59 points or 3.23 per cent as LIC Nepal earned Rs 105 per unit. Likewise, Nepal Life Insurance that began the day at the dividend-adjusted price of Rs 3,390 closed at Rs 3,656 per unit by the time the market closed. Following the book closure of Nepal Life Insurance on Sunday, Nepse today adjusted the insurer’s price at par with its 70 per cent stock dividend, which, apparently, brought down its price from Rs 5,650 to the adjusted price.
“After book closure, Nepse adjusts the price of stocks by the amount of bonus shares to be distributed, which naturally brings down the stock price,” pointed out Bharat Ranabhat, managing director of Kohinoor Investment and Securities — Broker No 35.
Along with insurance, the banking subgroup also continued its double digit jump. The subgroup rushed up by 21.32 points that translates to 2.87 per cent on gains made by banks such as Nabil and NIBL, which earned Rs 70 and Rs 34, respectively, among others.
“Orders for banking stocks have also increased in the past few days with investors being attracted to banks once again,” he added.
The share prices of Oriental Hotel and Taragaon Regency Hotel suffered losses of Rs 30 and Rs 28 per unit, pulling the hotel index down by 13.47 points. Likewise, Nepal Telecom also declined by Rs 10, which brought the others subgroup down by 11.75 points or 1.5 per cent.
Along with the share prices, the market turnover also recorded a high of Rs 584 million today. Yesterday, the market had undertaken orders worth Rs 502 million. The total market capitalisation reached Rs 878 billion today — up by Rs 14.5 billion in a single day.
source:the himalayan times,6 may 2014
LINK
Comments
Post a Comment