Nepse continues growth by 22.52 points

The bullish trend at Nepal Stock Exchange (Nepse) continued for yet another week gaining 22.52 points this week.

According to the Nepse, the market opened at 657.47 points at the beginning of the week and closed at 679.99 points on Thursday, the closing day of the week. The market has been overheated with a notable hike in rush of gullible investors for the last two months.

The share trading in the secondary market continued to climb up setting new records each day for the first two days. It reached an all time high of 696.68 points on Tuesday, but it dropped to 677.98 points on Wednesday.

The total turnover of this week also increased. During the week, the total amount traded touched Rs 393.5 million from the sale of 506,943 shares through 2,999 transactions, against the last week’s figure of Rs 297.8 million through the trading of 914,428 shares.

Out of the total 68 listed companies for share trading, 58 companies saw their transactions this week.

The group wise share trading analysis shows that all major groups including commercial banks, hydropower, and insurance groups each registered an impressive growth this week.

The commercial banks group, which is the largest scrip by volume and aggressive performer, continued with a significant growth of 20.41 points. The group closed higher at 768.89 points from 748.48 points on Sunday.

Shares of hydropower companies were the second most popular. Of all the shares traded this week, 9.92 percent were of hydropower companies. Its shares strengthened by 104.29 points.

Likewise, insurance companies' shares gained 27.8 points and closed at 632.13 points while the shares of finance companies recorded a 2.55-point rise to close at 472.96 points.

Hotels and trading groups also went up by 9.59 and 7.82 points respectively to finish at 257.04 points and 162.19 points respectively. Development bank shares also gained 2.86 points to close at 539.43 points.

Manufacturing, trading and other groups, however, recorded no change in their index during the week.