Hope of political consensus pushes Nepse to green zone
REPUBLICA
KATHMANDU, Nov 4: Nepal Stock Exchange (Nepse) index moved to green territory in second consecutive day on Wednesday over positive indication on settling the long running political crisis in the country.
The Nepse, which is the barometer of the confidence of investors in capital market, gained 9.97 points to close at 581.55 points on Wednesday.
“Naturally, the positive signal about the political situation in the country is the main reason behind Nepse´s gain. Low selling pressure due to reluctance of investors to sell off their stocks amid falling share prices is another reason that helped Nepse climb to green territory,” a share analyst told myrepublica.com.
Rise in sub-indices of most of the trading groups, including dominant Banking group, contributed to the rise in Nepse. The Banking group gained 11.47 points to close at 559.04 points with share prices of major commercial banks, including Bank of Kathmandu, Himalayan Bank, Kumari Bank, Laxmi Bank, Nabil Bank and Standard Chartered Bank, going up on Wednesday´s session.
Trading group and Development Bank group also gained 4.88 points and 4.57 points to close at 266.09 points and 637.91 points respectively. However, Hydropower group and Others group saw their sub-indices go down by 2.46 points and 17.62 points to close at 815.88 points and 634.45 points respectively. In the like manner, Finance group shed a nominal 0.24 points to 607.26 points.
Total turnover at the end of the Wednesday´s session touched Rs 68.33 million with 99,040 units of shares and 64 units of scrips changing hands through 853 transactions. Total market capitalization touched Rs 409.91 billion.
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Hope Of Political Consensus Pushes Nepse To Green Zone
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