Print Edition - 2016-09-04 | MONEY
Turnover more than doubles as stock market rebounds
Sep 4, 2016-
Transactions more than doubled last week, with the Nepal Stock Exchange (Nepse) posting gains for the last three weeks. The turnover jumped 101.04 percent to Rs6.91 billion as the number of transactions rising to 33,932 times from previous week’s 19,954 times, suggesting active participation of investors.
The number of traded shares too more than doubled to 9,715,780 units from the previous week’s 4,781,900 units.After massive fluctuations for a few weeks following plans to study possible inflow of black money, the capital market has risen steadily over the last three weeks with occasional fluctuations.
The benchmark Nepse index gained 56.95 points last week to close at 1805.18. It is the first time in a month the index crossed the 1,800-point mark.
After hitting a life-time record of 1881.45 points on July 27, the market started shedding points after the Securities Board of Nepal (Sebon) initiated the process of investigating into a possible entry of illicit funds in the market. However, the Sebon abandoned the plan in the second week of August, which curbed the fall.
Last week, commercial banks, development banks, insurance companies and manufacturing posted gains. The insurance and manufacturing sub-indices saw triple-digit growth, while the banking sector gained 68.98 points.
Nepal Bangladesh Bank topped in terms of the highest turnover of Rs438.54 million, Siddhartha Investment Growth Scheme-1 led in terms of the number of shares traded (1,419,000 units). Nepal Investment Bank Limited posted the highest number of transactions (4,202).
Published: 04-09-2016 11:48