Though the benchmark index rose for the second straight day, stock analysts said there is no strong reason to support gain.[break]
“We have not seen any reason behind the growth in Nepse, as the government has no clear policy to support the growth. The secondary market is in gloom because of high bank interest rates compared to low rate of return in stock market and persisting liquidity crunch,” said a stock analyst.
During the day´s trading, the sub-indices of Banking and Development Bank groups increased by 7.26 points and 0.64 points to settle at 296.24 points and 286.65 points respectively. Manufacturing and Others groups also gained points with their sub-indices going up by 3.56 points and 10.57 points to settle at 574.7 points and 486.44 points respectively.
However, Hydropower, Finance and Insurance groups lost their sub-indices by 0.59 points, 0.76 points and 2.02 points to close the day´s trading at 569.12 points 298.44 points and 412.32 points respectively.
Total turnover was recorded at Rs 57.1 million with 243,887 units of shares changing hands through 1,021 transactions. Total market capitalization -- total worth of listed shares -- touched Rs 303.84 billion.
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