Nepse index jumps by 29 points to touch 1,997 points

 Nepal Stock Exchange (Nepse) index today gained by 28.79 points to close the day’s trading at 1,997.06 points, the record higher in the domestic share market.

Though, today’s opening session witnessed Nepse index higher above 2,000 point mark, it closed down little lower than 2,000 points as the market corrected itself within the first trading hour. 

Nepse continued its winning streak with back-to-back gains of almost 30 points on Sunday and Monday, from last Thursday’s closing of record 1893.  Points. Today’s daily turnover has however, been lowed than yesterday’s as the market posted a turnover of Rs 8.87 billion compared to over Rs 9 billion of yesterday. 

Of the 12 sub indices, only 4 lost, while 8 sub indices gained to push the Nepse index up. Development Bank sub-index retraced by 2.08 per cent followed by 1.10 per cent dip in Mutual Fund sector. Likewise, Finance and Banking sub-indices also lost 0.59 per cent and 0.48 per cent.

But, Life Insurance and trading sub indices – the top performers – rallied by 7.34 per cent and 6.61 per cent, whereas hydropower sector shot up by 5.93 per cent.

Among the listed companies, Nepal Life Insurance led the list of top turnover stocks with a transaction of over Rs 384 million. Likewise, Nepal Reinsurance Company followed suit with turnover of Rs 373 million, whereas Prabhu Bank and Nepal Bangladesh Bank posted turnovers of Rs 367 million and Rs 333 million, respectively. Likewise, Global IME Bank, Nepal Investment Bank, and Nepal Bank were heavily traded stocks today.

United Modi Hydropower and Upper Tamakoshi Hydropower also gained remarkableas they hit the upper circuit limit of 10 per cent. Green Development Bank, Nepal Bangladesh Bank, Sanjen Jalvidhyut Company, Rasuwagadhi Hydropower Company, Nepal Life Insurance Company, Salt Trading Corporation and Nepal Credit and Commerce (NCC) Bank also witnessed a heavy buying pressure and closed more than 9 per cent higher.

However, Bishal Bazar Company tanked another 10 per cent, while Bottlers Nepal (Terai) fell by 5.42 per cent, whereas Lumbini Bikas Bank and Garima Bikas Bank declined by 4.10 per cent and 3.79 per cent.