Nepse index has reached a
28-month high as the bullish run continues unabated. The benchmark index
reached 475.15 points today as more investors are being attracted towards
shares. The index gained 11.79 points, as investors want to make purchases
before there is a political consensus regarding the budget and prices shoot
further up.
“The last time there was a
political consensus regarding the integration of combatants, the Nepse index
jumped out of dumps back in April. Investors are, at present, buying shares
anticipating a similar rise following another political consensus,” said share
analyst Rabindra Bhattarai.
Among the shares of the 97
companies that were traded today, shares of only 15 firms ended up in the
red.Today, 384,191 unit shares worth Rs 118 million, belonging to 97 companies,
were traded in 1606 transactions at Nepse.
The increased number of share
transactions and scrips show the increase in number of investors.
The index was this high last in
March 2010. Since December 2010, it had plunged below 400 points and even
reached 292 points in June 2011. In the last one year, the index was bobbing
over 300 points and started to rise since April.
The lack of alternative areas of
investment following a slowdown in real estate has increased the number of
investors in the stock market, said Bhattarai, who is also managing director of
Securities Research Center and Services.
Due to increased share prices,
market capitalization of the stock exchange increased by almost Rs 10 billion
to Rs 450 billion today from yesterday’s market capitalization that stood at Rs
439 billion.
Today, all the subgroups, except
for hotels, were able to register gains. Commercial banks became the biggest
earner of the day by gaining 18.97 points, followed closely by hydropower
companies that gained 15.9 points.
Promoter shares of Kamana Bikas
Bank and Nabil Bank were the day’s biggest gainers whose share prices shot up
by 10 per cent. Clean Energy Development Bank was the biggest loser of the day
with a seven per cent decline in share prices.
Source: The Himalayan Times, 7 Nov 2012
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