KATHMANDU, NOV 08 - 2012
Driven by strong demand, Nepal Stock Exchange (Nepse) posted double-digit growth on Wednesday as the market index surged by 11.79 points with the entire sub-indices except hotels registering growth.
This is the second time after Dashain that the benchmark index has seen double-digit gain.
After the festive holiday, the capital market has witnessed a larger
volume of share transactions along with the surge in Nepse index.
Stock analysts say currently the demand side has been heavier in the stock exchange, leading to continuous rise of stock price. “Investors have shown a great faith on the stocks of commercial banks,” said Anjan Raj Poudyal, president of Stock Brokers’ Association of Nepal. “They are expecting price will rise further and believe that they will have to pay higher price in the future.”
Currently, both the short-term speculators and long-term investors are attracted towards investing in the capital market, according to Poudyal. “They still have faith that there will be political consensus and budget will come soon,” he said.
The group representing commercial banks saw a sharp rise in its index by registering a growth of 18.97 points to settle at 427.17 points. Apart from the commercial banks, the hydropower companies surged by 15.9 points to close at 1,029.32 points. Similarly, the group representing development banks, finance companies, insurance and others registered growth of 1.68, 1.9, 3.37 and 1.18 points respectively. The index of manufacturing companies and trading firms, however, remained intact.
Commercial banks’ index surged following the rise in share price of Nabil Bank, Everest Bank and Standard Chartered Bank, among others.
Likewise, stock price of Chilime Hydropower Company and Arun Valley Hydropower Development Company increased by Rs 19 and Rs 4, contributing to the growth of index representing the hydropower companies. Along with the growth of market index, the exchange also witnessed a very high volume of share transaction on Wednesday, with a total turnover worth Rs 117.89 million. Likewise, 384,191 shares changed hands through 1,606 transactions on the day that saw Rs 449.88 billion in the market capitalisation.
Source: The Kathmandu Post
Driven by strong demand, Nepal Stock Exchange (Nepse) posted double-digit growth on Wednesday as the market index surged by 11.79 points with the entire sub-indices except hotels registering growth.
Stock analysts say currently the demand side has been heavier in the stock exchange, leading to continuous rise of stock price. “Investors have shown a great faith on the stocks of commercial banks,” said Anjan Raj Poudyal, president of Stock Brokers’ Association of Nepal. “They are expecting price will rise further and believe that they will have to pay higher price in the future.”
Currently, both the short-term speculators and long-term investors are attracted towards investing in the capital market, according to Poudyal. “They still have faith that there will be political consensus and budget will come soon,” he said.
The group representing commercial banks saw a sharp rise in its index by registering a growth of 18.97 points to settle at 427.17 points. Apart from the commercial banks, the hydropower companies surged by 15.9 points to close at 1,029.32 points. Similarly, the group representing development banks, finance companies, insurance and others registered growth of 1.68, 1.9, 3.37 and 1.18 points respectively. The index of manufacturing companies and trading firms, however, remained intact.
Commercial banks’ index surged following the rise in share price of Nabil Bank, Everest Bank and Standard Chartered Bank, among others.
Likewise, stock price of Chilime Hydropower Company and Arun Valley Hydropower Development Company increased by Rs 19 and Rs 4, contributing to the growth of index representing the hydropower companies. Along with the growth of market index, the exchange also witnessed a very high volume of share transaction on Wednesday, with a total turnover worth Rs 117.89 million. Likewise, 384,191 shares changed hands through 1,606 transactions on the day that saw Rs 449.88 billion in the market capitalisation.
Source: The Kathmandu Post
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