Nepse soars despite warning of 'unjustified rise'
Bolstered by rise in investors’ confidence along with strong performance of commercial banks, the bullish trend at the Nepal Stock Exchange (Nepse) continued to soar for yet another week. The stock market gained 22.52 points this week which the regulatory authority termed as 'unjustified rise'.
The Nepse index opened at 657.47 points at the beginning of the week, continued to climb up and closed at 679.99 points on Thursday, the last day of trading. According to trade analysts, soaring share prices of commercial banks, insurance companies and hydropower companies supported the growth.
The weekly turnover also increased this week to Rs 393.5 million with 506,943 unit shares having been traded through 2,999 transactions, against the last week’s figure of Rs 297.8 million through the trading of 914,428 shares. Out of the total 68 listed companies for share trading, 58 companies saw their transactions this week.
The group wise share trading analysis shows that all major groups including commercial banks, hydropower, and insurance groups each registered an impressive growth this week.
The shares of commercial banks maintained its dominance at the stock market this week, accounting for 78.75 percent of the total transactions. Amid rising demand of shares of commercial banks, the group gained 20.41 points in its index touching 768.89 points.
Likewise, the insurance group, too, managed a double-digit growth of 27.08 points. The group’s trading that opened at 605.05 points on Sunday went up to 632.13 points on the closing day.
Among the gainers, the hydropower group turned out to be the aggressive performer this week with a 104.29 point rise. nepalnews.com ag July 22 07
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