Share market sees surge after long time

October 1, 2024, 04:13:36 PM |

KATHMANDU: After a prolonged period, the stock market has seen a notable surge. Amid expectations that the continuous rise would break previous records, the market had stumbled slightly but is now heading towards widespread gains. On Tuesday, the third trading day of the week, the market rose by 114.70 points to reach 2,623.56 points. Shares of 243 companies increased, and a total transaction of NPR 7.61 billion was recorded. Only Unilever Nepal’s share price fell today, while Nepal Lube Oil’s share price remained unchanged.

After fluctuating last week, leading to a 90-point drop overall, the market this week has shown consistent growth. The stock market fell by 22.36 points on Sunday but rebounded by 44.45 points on Monday. Investors expect the market to rise further in the month of Ashwin (October) after experiencing a 420.05-point drop during Bhadra (September).

While the market had shown weak performance throughout September, breaking transaction records previously, investors are optimistic about a “bounce back” in October, and the rise on Monday and Tuesday has helped restore confidence.

On the last day of Ashar (mid-July), the market stood at 2,240.41 points and showed significant growth throughout Shrawan (July-August), peaking at 3,000.81 points by the end of Shrawan. However, by the end of Bhadra, the index had dropped to 2,580.76 points. Investors anticipate a rise in October, but market movement is slow due to the festival season, making it hard to predict.

The all-time high point of 3,199, recorded on Bhadra 2, 2078 (August 18, 2021), remains the benchmark that investors are hoping to surpass. While various indicators suggest favorable conditions, the market has yet to consistently reach new heights. However, the notable growth in the past two days offers positive signs for the future.

With the return of investor confidence, analysts argue that the market could reach new highs soon. The transaction volume, which had been declining, is also showing signs of improvement. The remaining trading day this week, as well as the four trading days next week, will provide insights into the market’s performance after the Dashain festival.

Fiscal Nepal |

Tuesday October 1, 2024, 04:13:36 PM |