Nepse in Bullish Trend with Record Transaction on Sunday

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Nepse in Bullish Trend with Record Transaction on Sunday

February 24: Nepal Stock Exchange (Nepse) on Sunday (February 23) surpassed its previous record of biggest-ever transaction in a single day achieved only a few days ago. At the close of the day, Nepse witnessed a new record of share transactions worth Rs 3.60 billion, almost Rs 82 million more than the previous mark of 2.78 billion set last Thursday (February 20).

The last time Nepse achieved such feat was on July 26, 2016, when it traded shares worth Rs 2.75 billion in a single day.

The latest figure is the 20 th time that the daily transaction of Nepse crossed the mark of Rs 2 billion in a single day.  

On Sunday, Nepse index rose by 69.56 points to close at 1,504 points, the highest in the last 26 months.

Prior to this, the Nepse index was as high as 1508 points on December 19, 2017.  

Experts say the increase in the number of buyers and the rise in demand have resulted in the encouraging trend of the share market. Analysts also believe that the entry of new investors in the market has resulted in the increase of Nepse Index.

Nepse seems to be in a bullish trend due to the constant rise in index within a week.

Share analyst Dilip Munakarmi says the share market has started catching up after a long and sluggish period of bearish trend. According to him, the investors have become hopeful of good return which has resulted in increased transactions of shares.

The encouragement in investment is also believed to be associated with the likely exit of Finance Minister Yuba Raj Khatiwada. Khatiwada’s term as a member of the National Assembly expires in eight days. The ruling Nepal Communist Party  has not yet decided to appoint him for a second term with another strong contender Bam Dev Gautam joining the fray.

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