Share market gains 15.5 points to close at a new historic high

 Domestic share market is on fire as it is scaling new high every day.

Today – the third day of transaction in this week – the Nepal Stock Exchange (Nepse) index gained 15.50 points to close the market, above the psychological 2,600 mark, at 2601.51 points which indicates that bulls still have more legs for upside movement.

The index opened at 2,615.36 points and went on to make an intraday as high as at 2,631.37 points but the index also went down as low as 2,584.14 points, ultimately closing at 2,601.51 points.

“Some 17,732,765 shares traded hands through some 76,493 transactions,” according to the Nepse that recorded trading of 208 scrips, with a total market turnover to a little over Rs 10.03 billion. “While the float index gained 1.68 points and closed at 179.04 points, the sensitive index closed at 473.53 points after gaining 4.09 points. 

The domestic equity market rallied on banking sector, which ended 2.08 per cent higher, followed by mutual fund, others and development bank sector, but manufacturing and processing, hydropower and trading, hotels, finance, non-life insurance, microfinance and life Insurance segments lost.

Though, the investors continued to show notable buying enthusiasm in the market, the total turnover could not cross yesterday’s. Today the total turnover crossed Rs 10 billion mark, little less than yesterday’s. Tuesday saw shares of Nabil Bank and Global IME Bank being traded the most. Over Rs 544 million and 425 million worth shares of these banks changed hands, followed by Nepal Bank Neco Insurance, NIC Asia Bank and Shikhar Insurance, with turnovers of Rs 391 million, Rs 373 million, Rs 336 million and Rs 305 million, respectively. Likewise, Himalayan Distillery, Siddhartha Bank, NMB Bank and Kumari Bank are other heavily traded scrips Tuesday.

Likewise, Chandragiri Hills, Nepal Infrastructure Bank, Mirmire Microfinance Development Bank, Corporate Development Bank, Sunrise First Mutual Fund and Himalaya Urja Bikas Company locked in the upper circuit limit with above 9.5 per cent each, according to the Nepse.

Meanwhile, shares of Sadhana Laghubitta Bittiya Sanstha came under pressure and dropped by 6.15 per cent, followed by Panchthar Power Company, Barun Hydropower Company, Swabhimaan Laghubitta Bittiya Sanstha, which witnessed 5 per cent lower trade.