Insurance
companies gained hugely to push the stock exchange index up by 19.78 points or 2.4 per cent to close the
market at 823.49 points from the opening of 803.71 points this week.
The Nepse index
also rallied on latest development in the politics.
Though some
of the insurance companies stocks have around 100 profit to earning (PE) ratio,
investors bought the insurance stocks that are already overpriced.
However, the
increase in index could not fuel transaction volume that witnessed a drop by 30
per cent this week.
The exchange
saw trading of 2.8 million units of shares worth Rs 1.12 billion in 9,386
transactions, whereas last week, the market witnessed trading of 5.2 million
unit of shares worth Rs 1.6 billion in 13,492 transactions.
But all the subgroups – except manufacturing and hotels – gained in the five-day trading of Nepse.
But all the subgroups – except manufacturing and hotels – gained in the five-day trading of Nepse.
Nepal Life
Insurance topped the charts in terms of transaction volume with trading of
shares worth Rs 73.3 million, whereas, Nabil Balanced Fund I was the forerunner
– with trading of 544,491 units – in terms of number of shares traded for the
week.
Likewise, Sanima
Mai Hydropower was the forerunner with 1,291 transactions, in terms of number
of transactions.
Among the top five
companies in terms of transaction volume, Nepal Life Insurance (Rs 73.3
million) led followed by Chilime Hydropower (Rs 61.7 million), National Life
Insurance (Rs 59.4 million), Prime Life Insurance (Rs 57.2 million) and Asian
Life Insurance (Rs 52.8 million).
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