Market finally demonstrates stable growth; investors shifting from Microfinance and Insurance scrips to commercial banks

The green seen in the market today, unlike for a past few days, finally conveys a positive message. The market climbed 25.30 points or 1.86% without much fluctuations. So the market might be moving towards stability now.

The rampant growth of past few days was hyped by Microfinance and Insurance, however today that has come to balance and growth is seen in Commercial Banks’ and Nepal Telecom’s scrips.

Today, the market closed with a staggering turnover of Rs. 1.11 arba. A total of 2.66 lakh shares were today via 11,834 transactions.

Chilime Hydroower Company (CHCL) stood ahead in terms of turnover as more than 4.2 crore worth shares were traded. Likewise, Civil Bank Limited (CBL) stood at top in case of number of shares traded as 1.2 lakh unit shares were exchanged.

Likewise, Progressive Finance Limited (PROFL) was the top gainer of the day as it gained 9.93% on its price and closed at Rs. 166. Similarly, Sahayogi Bikas Bank (SBBLJ) was the top loser of the day losing 7.21% on its price closing at Rs. 207.

The sub-indices for all sectors except Trading increased today and landed in green zone. Among all, the Hydropower and Insurance sector gained the most whereas Trading sector lost 2.2 points being the only sector in red.