Will 'Bishnu Bull' sustain?

The 'Bishnu Bull' is in rage as the Nepal Stock Exchange (Nepse) index posted gains of 59.68 points on the last trading day of the week

Not only the index, but the transaction amount has also seen surge to Rs 15.54 billion in a day's trading, today.

The share market has been looking upwards, since the appointment of new finance minister Bishnu Prasad Poudel, on Monday.

As in the past, Bishnu Prasad Poudel has been a lucky finance minister for the share market this time too. The traders have, thus, named the surge in the market as the 'Bishnu Bull'.

However, the question is, 'will this Bishnu Bull sustain?'

May be, may not be.

But today the Nepse gained, as banking stocks surged significantly, closing trading at 2,424,32 points today.

The market has gained on Sunday, the first day of the trading in a week, but dipped on Monday, the second day.

But from Tuesday, the remaining three days, the market witnessed a surge of a total of 183.90 points, and closed at 2424.32 points, some 2.52 per cent higher from the opening.

Share prices of 143 companies advanced on the day, while 95 declined and five remained unchanged, according to the Nepse data. 

Share prices of five companies hit the positive circuit of 10 per cent whereas share prices of all 19 commercial banks increased on the day, with Nepal Investment Mega Bank (NIMB) hitting the positive circuit of 10 per cent.

Likewise, Nepal Finance logged the highest turnover of the session with Rs 424.68 million worth of shares traded. 

Upper Tamakoshi Hydropower and Ngadi Group Power followed Nepal Finance with turnovers of Rs 389.10 million and Rs 303.26 million, respectively.

The Finance and Hydropower sub-indices posted losses, while remaining 11 sub-indices closed the day in the green.

The biggest gain came from the Banking sub-index, which was up by a massive 6.28 per cent, though the balance sheets of the banks are not expected to show any significant gain.

Microfinance and Others sub-indices, with gains of 2.77 per cent and 203 per cent, respectively, followed the Banking sub-index. 

"Today, shares worth Rs 15.54 billion were traded on the bourse through 184,712 transactions," according to the Nepse.