Monday, January 25, 2021

Banks push equity market to a new high

 Fuelled by the banking index, the Nepal Stock Exchange (Nepse) index posted another record high of 2,440.87 points to close the day’s trading. The second trading day of the week, the Nepse index gained 16.04 points to close the trading at 2,440.87 points, according to the Nepse.

The day witnessed almost Rs. 9 billion worth of securities trading where almost all the sectors ended in green zone. Trading sector led the market with the sub-index rallying by 3.14 per cent, whereas others’ and banking sub-indices also saw shot up by 1.63 per cent and 1.39 per cent. Likewise, non-life insurance and mutual fund sub-indices gained but microfinance and hotels sectors lost as they dropped by 1.21 per cent and 1.18 per cent, respectively.

Some 19,285,504 shares traded hands via 72,773 transactions with the trading of 208 scrips being traded today. While the float index gained 1.11 points and closed at 166.49.38, the Sensitive index lost 0.24 points to close the market at 451.82 points.

As always, shares of Nepal Life Insurance continued to lead the list of active stocks. Over Rs 603 million worth of the life insurance shares changed hands, followed by Nabil Bank, NCC Bank and NIC Asia Bank with turnovers of Rs 331 million, Rs 313 million and Rs 297 million. 

Likewise, Citizen Investment Trust (CIT) shot up by 10 per cent for a second straight day, followed by Gurans Laghubitta, Prabhu Life Insurance, Mountain Energy Nepal, National Hydropower Company and Himal Power Partner also rallied more than 9 per cent each. Gurkhas Finance, Rastriya Beema Company, NRN Infrastructure and Development and Nepal Bank are also some of the key gainers.

The Nepse index that has been breaking records and creating new highs almost every day since last couple of months, opened at 2,447.01 but ultimately closed at 2,440.87 points.

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