NEPSE Index
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Nepse closes week lower amidst notable profit booking
KATHMANDU, Jan 24: Nepal Stock Exchange (Nepse) index gained 7.3 points, or 0.6 percent, to climb to an all time high of 1,219.62 points on Sunday.
The market continued its gaining streak of last week on the first trading day of the week amid buoyancy of investors, who, analysts say, are expecting an end to the current Tarai turmoil and economic blockade by India. Analysts say that full-fledged implementation of dematerialization system to replace the old paper-based trading has also kept the investors optimist.
The stock market rally continued on the first trading day of the week as bullish investors have gone into a buying spree, say stock brokers. Some brokers also say that the short supply of shares due to delay by many investors to open demat account has also drive up the benchmark index.
All trading groups logged gains on Sunday.
“The market seems to have become buoyant mainly due to hope among investors that the Tarai turmoil, which has cost the country dear, will end soon. India has also welcomed the recent amendment to the constitution. Many investors interpret the India's step to welcome the development as a signal to lift its unofficial economic blockade imposed,” a stock broker told Republica.
Hotels group was the biggest gainer of the day as its sub-index jumped 36.49 points to close at 1,779.16 points. Development Bank group saw its sub-index jump by 24.69 points to settle at 1,203.21 points. Insurance group also ended 12.25 points higher at 5,450.01 points. The sub-indices of Hydropower and Banking groups also went up 5.35 points and 5.38 points, respectively, to end the day's trading at 2,157.47 points and 1,111.33 points. Finance group also inched up 2.07 points to finish at 585.58 points. 'Others' group, however, remained unchanged at 804.75 points.
A total of 801,033 units of shares of 100 companies worth Rs 541.71 million changed hands in the market through 2,369 transactions. Share prices of Api Power Company Ltd, Barun Hydropower Company Ltd and United Insurance Company went up by the highest 10 percent, while share prices of Civil Bank Ltd, Taragaon Regency Hotel Ltd and Nagbeli Laghubitta fell by 3.4, 2.6 and 2.01 percent, respectively.
Meanwhile, Nepse has suspended Trishuli Securities Pvt Ltd -- a brokerage firm -- for seven trading days due to non-settlement of fund obligation.
