Nepse posts yet another historic record

 Despite the political instability, the share market witnessed yet another historic record.

The Nepal Stock Exchange (Nepse) index today – the last regular trading day – registered a gain of 25.21 points to end the last trading session of the year 2020, and closed at 2,087.28 points breaking the earlier record of 2071.02 points of 2 December.

Though the index once crossed 2,100 level in the morning, it settled down to 2,087.28 points. 

Among the sub-indices, Trading sub-index gained 8.89 per cent, Banking sub-index rose by 1.97 per cent, whereas Others’ and Life Insurance sub-indices also saw over 1 per cent gain. All other sub-indices, except Non-Life Insurance sub-index gained. The Non-Life Insurance sub-index lost 1 per cent today.

The market also witnessed trading of over Rs 5.7 billion today, whereas this week, the average daily trading stood at around Rs 4 billion against the share investors expectation of more trading amount after the regulator reduced the broker commission. The Securities Board of Nepal (Sebon) slashed the broker commission as the investors claimed the lower commission rate would help increase trading amount.

The day also witnessed shares of Himalayan Distillery traded the most ahead of its book closure for the annual general meeting (AGM). Over Rs 468 million worth of the beverage manufacturer changed hands on the ex-dividend date. Nepal Life Insurance Company, Citizen Investment Trust and Nepal Telecom shares were also actively traded with the scrips posting turnovers of Rs 371 million, Rs 288 million and Rs 285 million, respectively, according to the Nepse. “Likewise, NIC Asia Bank, Shivam Cements and Everest Bank were the other active stocks today.”

Similarly, Salt Trading Corporation gained the most as its stock hit the upper circuit limit of positive 10 per cent. Everest Bank and Goodwill Finance followed with gains of around 6 per cent each.