Stock market up 12.09 points on constitution endorsementWith the Constituent Assembly endorsing the new constitution, the stock market surged 12.09 points to reach 1196.02 points last week.
With the Constituent Assembly endorsing the new constitution, the stock market surged 12.09 points to reach 1196.02 points last week.
The market turnover jumped 47.93 percent to Rs3.31 billion, while the number of shares traded rose to 6,620,140 units from 5,462,840.
The market, which opened at 1,183.93 points on Sunday, rose for the following two days before losing points in last two trading days.
Umesh Regmi, managing director of Nepal Investment & Securities Trading, attributed the growth to the increasing buying pressure.
“With the Constituent Assembly approving the constitution, investors qare encouraged to purchase more shares,” he said.
Of the nine trading groups, six posted gains. The hydropower group (up 49.03 points) led the gainers’ side, including hotels, development banks, commercial banks, finance companies and ‘others’.
The manufacturing group (down 104.52 points) was the top loser followed by insurance companies. The trading group was stable at 206.99 points. Regmi said profit booking rush brought down the insurance group.
The sensitive index that measures the performance of ‘A’ class companies also rose 2.97 points to 258.5 points.
Nepal Investment Bank (promoters’ shares) posted the highest individual transaction of Rs183.46 million. It was followed by National Life Insurance, NB Bank, NIC Asia Bank and Prime Commercial Bank.
With 413,000 units of its shares changing hands, Arun Finance topped in terms of the number of shares traded.