Hitting a 70-month high, Nepal Stock Exchange (Nepse) breached the four-digit mark to settle at 1,014.67 points
today. The benchmark index was this high back on September 11, 2008, when it stood at 1,028.50 points.
Nepse had clocked an all-time high on August 31, 2008 at 1,175.38 points, but had been limited to three digit points since it marked 1,004 points on September 18, 2008.
All the subgroups, except insurance, saw an increase, witnessing a continued robust growth on the third trading day of the week.
Stock brokers say that the overall stock market is growing due to the increased liquidity in the market, investors’ expectation for higher returns, and pre-budget hopes.
“The current bull run is the result of investors becoming more knowledgeable and more investors entering the stock market,” opined Praveen Raman Parajuli, CEO of Nabil Investment.
During the day, the trading floor witnessed 4,602 transactions of 1.63 million shares of 154 companies worth Rs 828.57 million. The sensitive index climbed 2.07 per cent to 216.55 points, while the float index rose 2.27 per cent to 71.35 points, from the previous trading day’s close.
Development banks rose 3.06 per cent, highest of all subgroups, jumping 19.71 points to 662.73 points, while the banking subgroup, that increased by 2.82 per cent, earned 25.04 points reaching 911.9 points.
Similarly, the finance subgroup, which was in the red the previous day, swelled by 2.42 per cent to 512 points. Hotels grew by 1.62 per cent to 1921.51 points, gaining 30.69 points. Meanwhile, hydropower gained 0.75 per cent to 3043.32 points, up 22.87 points from the previous close.
The insurance subgroup, which had ruled Nepse for the last few days, slid 0.1 per cent from the previous mark.
The top five companies for the day in terms of turnover were Chilime Hydropower Co (Rs 63.274 million), Agricultural Development Bank (Rs 47.09 million), Arun Valley Hydropower (Rs 35.36 million), National Hydropower Co (Rs 29.42 million) and Nepal Bank (Rs 29.32 million).
ICFC Finance, the top gainer of the day, rose to Rs 330 per share. Likewise, Agricultural Development Bank, the second top gainer of the day by turnover, climbed to Rs 628 per share, Kathmandu Finance’s share price reached Rs 177. Likewise, share price of Kailash Bikash Bank went up to Rs 468 and Sunrise Bank rose 9.83 per cent to Rs 503.
Neco Insurance, top loser of the day, declined by 7.48 per cent to Rs 755 per share. Malika Bikash Bank lost 3.23 per cent, contracting to Rs 210. Fewa Finance slid 3.13 per cent to Rs 279 and National Life Insurance declined by 3.10 per cent to Rs 2,660 per share. Similarly, Swabalamban Laghubitta Bikas Bank contracted to Rs 1,536, losing 2.48 per cent from the previous day’s close.
source: the himalayan times,8 july 2014
LINK
today. The benchmark index was this high back on September 11, 2008, when it stood at 1,028.50 points.
Nepse had clocked an all-time high on August 31, 2008 at 1,175.38 points, but had been limited to three digit points since it marked 1,004 points on September 18, 2008.
All the subgroups, except insurance, saw an increase, witnessing a continued robust growth on the third trading day of the week.
Stock brokers say that the overall stock market is growing due to the increased liquidity in the market, investors’ expectation for higher returns, and pre-budget hopes.
“The current bull run is the result of investors becoming more knowledgeable and more investors entering the stock market,” opined Praveen Raman Parajuli, CEO of Nabil Investment.
During the day, the trading floor witnessed 4,602 transactions of 1.63 million shares of 154 companies worth Rs 828.57 million. The sensitive index climbed 2.07 per cent to 216.55 points, while the float index rose 2.27 per cent to 71.35 points, from the previous trading day’s close.
Development banks rose 3.06 per cent, highest of all subgroups, jumping 19.71 points to 662.73 points, while the banking subgroup, that increased by 2.82 per cent, earned 25.04 points reaching 911.9 points.
Similarly, the finance subgroup, which was in the red the previous day, swelled by 2.42 per cent to 512 points. Hotels grew by 1.62 per cent to 1921.51 points, gaining 30.69 points. Meanwhile, hydropower gained 0.75 per cent to 3043.32 points, up 22.87 points from the previous close.
The insurance subgroup, which had ruled Nepse for the last few days, slid 0.1 per cent from the previous mark.
The top five companies for the day in terms of turnover were Chilime Hydropower Co (Rs 63.274 million), Agricultural Development Bank (Rs 47.09 million), Arun Valley Hydropower (Rs 35.36 million), National Hydropower Co (Rs 29.42 million) and Nepal Bank (Rs 29.32 million).
ICFC Finance, the top gainer of the day, rose to Rs 330 per share. Likewise, Agricultural Development Bank, the second top gainer of the day by turnover, climbed to Rs 628 per share, Kathmandu Finance’s share price reached Rs 177. Likewise, share price of Kailash Bikash Bank went up to Rs 468 and Sunrise Bank rose 9.83 per cent to Rs 503.
Neco Insurance, top loser of the day, declined by 7.48 per cent to Rs 755 per share. Malika Bikash Bank lost 3.23 per cent, contracting to Rs 210. Fewa Finance slid 3.13 per cent to Rs 279 and National Life Insurance declined by 3.10 per cent to Rs 2,660 per share. Similarly, Swabalamban Laghubitta Bikas Bank contracted to Rs 1,536, losing 2.48 per cent from the previous day’s close.
source: the himalayan times,8 july 2014
LINK
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