Daily turnover at NEPSE hits 35-month high of Rs 15.54 billion; index soars to 27-month high of 2,424.32 points

Published On: July 18, 2024 08:00 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, July 18: Nepal Stock Exchange (NEPSE) on Thursday witnessed a daily turnover of Rs 15.54 billion, the highest in the past 35 months.

After CPN-UML Chairperson KP Sharma Oli was confirmed to lead the new government on Sunday, the transaction volume at the secondary market has been escalating impressively. On the first day of the week, the turnover amount was Rs 7.62 billion. On consecutive three days, the amount was recorded at Rs 8.73 billion, Rs 9.13 billion and Rs 12.05 billion, respectively.

Stockbrokers said, the soaring trade volume shows that the investors have started regaining their confidence. According to them, an increase in both purchase and sale of the shares has led to a surge in the transaction amounts.

Along with the traded amounts, the market index also soared to a 27-month high at 2,424.32 points on Thursday. The NEPSE index jumped 59.68 points.

In the intraday trading, the market opened at 2,364.64 points and plunged to the day’s low at 2,356.82 points in the first 15 minutes. In the next one and a half hours, the index soared to the day’s high to 2,459.94 points. The market then shed around three points and remained almost stable in the remaining period before it closed for the day.

The sensitive index that measures the performance of ‘A’ class companies also grew by an impressive 16.37 points.

Two groups including finance and hydropower lost 35.69 points and 0.22 points, respectively. Out of the 11 gainers, microfinance added the largest of 139.40 points. Microfinance and non-life insurance also added three-digit values of 139.40 points and 123.92 points, respectively.

Among individual companies, 144 were recorded as gainers whereas 95 were the losers.

Nepal Finance Ltd had the largest turnover of its shares worth Rs 424.68 million. Five listed companies gained the highest of 10 percent of their market values. These include Nepal Investment Mega Bank Limited, Nepal Finance Ltd, Ankhu Khola Jalvidyut Company Ltd, Upakar Laghubitta Bittiya Sanstha Limited and Three Star Hydropower Limited. Kumari Sabal Yojana lost the highest of 5.76 percent of its market price.