Nepse breaches 2,900-point level; turnover at record high of Rs 27.24 billion

KATHMANDU: Nepal Stock Exchange (Nepse) extended its gaining streak for a fourth straight session, trading 70.81 points higher at 2,931.65 points on Monday.

The Nepse index has gained 836.4 points since the beginning of the new fiscal year on July 16.

Although the benchmark index fell after breaching the psychological 2,900-point mark after about an hour of trading, it posted healthy growth toward the close to ultimately end the session 2.47% higher.

Daily turnover hit a record Rs 27.24 billion during the session with 64.87 million units of shares traded through 283,047 transactions.

Unit prices of 171 scrips advanced on the day, while 68 declined and three remained unchanged. Share prices of seven companies hit the positive circuit of 10%. Himalayan Reinsurance Ltd logged the highest turnover of the session with Rs 1.22 billion worth of shares traded. Next were Shivam Cement and Nepal Finance Ltd with turnovers of Rs Rs 922.88 million and Rs 843.69 million, respectively.

Among trading groups, 11 posted gains and two ended the session in the re. The biggest gain came from the Life Insurance sub-index which was up by 5.85%. Next were  Finance and Trading sub-indices with gains of 4.81% and 4.13%, respectively. The market heavyweight banking group was up by 2.95%.

Market capitalization also reached a record Rs 4.65 trillion on the day.