Nepal | September 21, 2020

Nepse snaps six days of bull-run

Himalayan News Service
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Kathmandu, May 25

Nepal Stock Exchange (Nepse) snapped six days of continuous bull-run today, with the benchmark index dropping by 20.41 points or 1.32 per cent to rest at 1,524.12 points.

Though the Nepse index was southbound in the initial trading hour, the local bourse had rebounded to as high as 1,547.83 points by mid-day trading before adopting correction mode and shedding the gains in the later part of the day.

The sensitive index shed 1.4 per cent to land at 329.78 points and float index also fell 1.35 per cent to close at 111.16 points. Similarly, most of the subgroups, apart from hydropower and development banks, landed in the red today.

Even with some market corrections, the confidence of share investors continues to be mostly bullish. This is especially as the third quarterly reports of banking and insurance companies have shown good profits despite the adverse economic conditions following the devastating quakes and border blockade, lower interest rates of commercial banks, and lack of other profitable avenues, among other reasons.

The share market today witnessed 5,810 transactions of 1.91 million shares of 137 companies and recorded daily turnover of Rs 1.44 billion. The traded amount was 12.72 per cent lower than Tuesday, when the total daily turnover stood at Rs 1.65 billion.

A version of this article appears in print on May 26, 2016 of The Himalayan Times.

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