Share market records two circuit breaks with double-digit growth

By A Staff Reporter,Kathmandu, July 3:The share market witnessed notable fluctuation on Tuesday, triggering two positive circuit breakers. The trading was suspended for a while due to two positive circuit breaks, but after the second break, the market corrected.

In first 1 minute and 23 seconds after the stock market opened, NEPSE increased by 4 per cent (82.48 points) to 2,135.87 points and stock trading was closed for 20 minutes.

Upon resuming at 11:21 a.m, the market climbed an additional 1 per cent, totaling a 5 per cent or 102-point increase within 16 seconds, and then the trading was suspended for 40 minutes due to a positive circuit breaker for the second time.

After that, the stock market, which opened at 12:01 p.m, began to decline reaching 2,162 points. Despite continued fluctuations, the trading day ended with an overall positive sentiment.

With the significant fluctuation, the NEPSE index has posted double-digit growth of 47.04 points and closed at 2,100.43 points.

The NEPSE index increased positively due to rumours of a change in government. There are usually significant fluctuations in the Nepali stock market when there are rumours of a change of government. 

The sensitive index which measures the performance of group ‘A’ companies also increased by 8.94 points to close at 370.71 points today.

With the increment of the NEPSE index, the turnover also increased significantly.

A total of 11,645,905 shares worth Rs. 4.57 billion of 315 companies were bought and sold in 60,720 transactions on Tuesday. 

On Monday, about 6,392,090 shares worth Rs. 2.92 billion had been bought and sold.

The sub-indices of all groups have increased noticeably.

The sub-index of the non-life insurance group saw the highest growth of 253.99 points (2.43 per cent) followed by the life insurance and manufacturing and processing group whose indices increased by 213.36 points (2.17 per cent) and 209.80 points (3.30 per cent) respectively. 

The sub-index of trading group increased by 88.56 points, development bank by 80.69 points, microfinance by 65.24 points and hotels and tourism by 57.80 points on Tuesday

The sub-index of the finance group increased by 50.96 points, banking by 47.07 points, hydropower by 46.53 points, others by 27.66 points, investment by 1.74 points and mutual fund by 0.06 points.

In today's transaction, the share price of 248 companies increased while the share price of only 54 companies witnessed a decline. Share price of Himalayan Distillery has increased by 8.54 per cent, Samaj Laghubitta Bittiya Sanstha by 6.96 per cent, Goodwill Finance by 5.74 per cent and National Hydro Power Company by 5.51 per cent.

However, the share price of Upakar Laghubitta Bittiya Sanstha decreased by 6.46 per cent, Himalaya Urja Bikas Company by 6.21 per cent and Nepal Investment Debenture 2082 by 3.51 per cent.