NEPSE soars by 43.05 points; daily turnover sets new record of Rs 29.95 billion

KATHMANDU, Aug 15: Nepal Stock Exchange (NEPSE) on Thursday hit the record high single-day turnover of Rs 29.95 billion.

As the secondary market has been bullish for the past few weeks, the daily turnover amount is setting new records almost every week. According to stockbrokers, the increased NEPSE index backed by large transaction volumes could ensure sustained growth of the share market.

The secondary market opened at 2,957.75 points and reached as high as 3,022.82 points in the first 25 minutes. The index hovered in the range between 3,000 and 3,020 points for the next over two hours. The market hit the day’s high at 3,036.65 points when trading was left for the last half an hour. The market shed around 36 points in the remaining period before it closed for the day.

The sensitive index, which measures the performance of ‘A’ class companies, added 16.01 points. The daily turnover increased to Rs 29.95 billion from Rs 23.43 billion on Wednesday.

Among individual companies, 106 were recorded as gainers whereas 136 were the losers.

Five groups—manufacturing and processing, finance, life insurance, ‘others’ and microfinance—were the losers, while manufacturing and processing shed the largest of 141.57 points. Of the eight gainers, non-life insurance escalated by the highest of 134.34 points.

Himalayan Reinsurance Limited had the largest turnover of its shares worth Rs 985 million. Three companies including Butwal Power Company, Rastriya Beema Company and Modi Energy Limited gained the highest of 10 percent of their share values. Nepal Finance Ltd was recorded as the biggest loser.