KATHMANDU, Jan 26: Daily turnover at the Nepal Stock Exchange (NEPSE) jumped to Rs 16.35 billion on Monday, with the country’s secondary market responding positively to the upcoming election.
According to stockbrokers, the surged trade volume has shown an increased attraction of the investors towards the secondary market. With the investors rushing to book capital gains, the market however witnessed correction by nominal value.
On Monday trading, the NEPSE opened at 2,772.17 points and closed at 2,769.09 points. The market posted high volatility in the first half an hour.
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The market initially hiked to the day’s high at 2,788.09 points in the first three minutes, Eventually, the index declined by around 30 points in the next 12 minutes, while escalating again by 26 points in the next similar time interval.
The index fell to the day’s low at 2,747.59 points in the last one and a half hours. The market recovered around 22 points in the remaining period before it closed for the day.
Four sectors were the gainers, with hotels and tourism adding the largest of 127.68 points, followed by manufacturing and processing, hydropower and mutual funds in the row. Of the nine losers, life insurance plunged by the largest of 71.86 points.
The sensitive index which measures the performance of ‘A’ class companies declined 1.64 points. The daily turnover surged to Rs 16.35 billion from Rs 13.78 billion.
Among the individual companies, 88 were gainers while 165 were recorded as losers. Himalayan Power Partner had the largest turnover of its shares worth Rs 659.33 million.
National Hydro Power Company had the highest fall 3.12 percent. Five companies including SY Panel Nepal Limited, Him Star Urja Company, Sanvi Energy Limited, Saptakoshi Development Bank and Mountain Hydro Nepal Limited had 10 percent gain in their market values.
