KATHMANDU, Sept 11: The stock market started the day on a green note. However, the trading halted due to some technical issues on mid-day. Later on the market resumed its trading and continued to maintain a positive stance in the latter trading hours. At the close, Nepse registered a gain of 12.49 points to settle at 1,520.69 points.
Adding to Thursday’s gains, Nepse has continued to hold ground above 1,500 points mark. Further, the stocks market has continued to see active market participation. The exchange recorded the total turnover of Rs. 2.209 billion.
Except for three sectors, all other sectors closed in green side. Trading sectors suffered the most by declining 2.84% while Mutual Fund and Hotels sub-indices closed meagerly lower. On the other hand, Non-Life Insurance, Life Insurance, Microfinance and Manufacturing & Processing sub-index rallied by 3.9%, 2.19%,1.31% and 1.09% respectively. Likewise, sub-indices of Banking, Development Bank, Hydropower, Finance and Others ended the day a marginal increment.
In terms of stock wise turnover, Nepal Reinsurance Company Ltd saw the biggest turnover of the day as over Rs. 174 million worth of its shares changed hands. Similarly, Citizen Investment Trust and Nepal Life Insurance Company Ltd registered the total transaction over Rs. 95 million and 91 million correspondingly. Shares of Surya Life Insurance Company Ltd, Everest Insurance Company Ltd, Shivam Cements Ltd, Asian Life Insurance Company Ltd, and Shikhar Insurance Company Ltd were among other actively traded stocks.
Nepse ends flat after eventful week
On the gainers list, shares of Rastriya Beema Company ltd, Reliance Life Insurance Company Ltd and NRN Infrastructure and Development Ltd rallied almost 10% each. Similarly, NRN Laghubitta Bittiya Sanstha Ltd, Everest Insurance Company Ltd and Nepal Finance Ltd also saw strength and climbed above 9.14%, 8.13%, 7.56%respectively. Other gaining stocks on Thursday were RSDC Laghubitta Bittiya Sanstha Ltd,Sadhana Laghubitta Bittiya Sanstha, EverestBank Ltd Con. Share and United Insurance Co. Nepal Ltd.
In contrast, shares of Nabil Equity Fund, Asha Laghubitta Bittiya Sanstha Ltd and Salt Trading Corporation suffered the biggest losses with shares dropping by 5.64%, 4.13% and 3.58% on their price.
Likewise, scrips of Union Hydropower Limited, Multipurpose Finance Company Limited, NIC Asia Growth Fund, Citizen Investment Trust and Sindhu Bikash Bank Ltd shed over 2% apiece.
In terms of ARKS technical analysis, the market continued to form a third bullish candlestick on the daily timeframe. Furthermore, the exchange has continued to maintain notable volume on Thursday’s trading. Similarly, technical Indicators also suggest upbeat sentiment prevailing in the market. The market holding above 1,500 points mark level with noteworthy turnover signals a positive momentum at the present context.Immediate resistance lies at around 1,550 point’s level.
This column is produced by ARKS Capital Advisors Ltd
(Views expressed in the article are those of the producer and do not necessarily reflect those of this publication)
www.arkscapitaladvisors.com
