Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]

Nepse Plunges As Investors Opt Profit Booking

  2 min 46 sec to read

 
--By Sagar Ghimire
 
Stock market moved downwards after few weeks of gaining string as wary investors opted to book profits after recent gains. Nepse index fell 12.80 points last week to settle at 643.95. 
 
Nepse has opened at 656.75 points on the first trading day. Circuit breaker was imposed twice to control the market following the excess gain of 3 per cent and 5 per cent respectively on the first trading day. The positive vibes among the investors following the Constituent Assembly polls have boosted the Nepal’s bourse. Though the immense investment seen in the market flared up Nepse for two trading days last week, the index observed a minor correction on the rest of the days during the trading week.  
 
During the week, a total of 45,495,454 units of shares through 13218 transactions worth Rs 1.608 billion were traded in the market. The amount, units of shares and number of transactions are significantly higher than those of previous weeks. 
 
The political environment has become a major factor for the rise of the Nepse index. Stating that almost all of the listed companies have already distributed the dividends to the share holders, stock analysts say that the investors should be cautious while making their investment now as the profit highly depends on the market volatility. 
 
Narendra Sijapati, president of the Stockbrokers Association Nepal, does not see any possibility of Nepse going down substantially anytime soon. He is upbeat about the market prospects due to the victory of ‘democratic parties’ in the CA polls. . “Though there was a marginal correction last week, the overall market is in the rising trend. A big boost can be expected in coming weeks as soon as the government formation process kicks off,” said Sijapati. 
 
Nepal Bank Ltd was the company with the highest transaction and the highest turnover.  Insurance sector was the highest gainer with its sub-index moving up by 144.45 points. It was followed by Hotel (up by 106.58 points), Development Banks (up by 12.8 points and Manufacturing & Production (up by 0.06 points).  Towards the losers, sub-indices of Banks, Finance, Hydropower, Other and Trading sectors observed decline.
 
Index
 

Nepse on Sunday

The index gained 8.03 points from Thursday (Nov 28) close. All the sectors saw increment on the first day in the trading floor this week. Nepse index closed at 651.98 points on Sunday (December 1). 
 
The highest gainer was Hotels sector with its index up by 77.38 points settling at 1089.58. The Hotels sector was followed by Insurance (up by 43.79 points), Hydropower (up by 12.54 points), Banking (up by 7.83 points), Development Banks (up by 6.03 points) and Finance (up by 1.17 points). The index of Others sector remained unchanged.
 
A total of 1,024,805 units of shares of 109 companies worth Rs 660.7 million were traded through 2451 transactions. 

Deprecated (16384): Using key `action` is deprecated, use `url` directly instead. [CORE/Cake/View/Helper/FormHelper.php, line 383]
No comments yet. Be the first one to comment.