The stock market witnessed almost half-a-billion stock trading everyday in an average.
Last week saw Rs 1.98 billion worth trading of 148 listed companies,” according to the Nepal Stock Exchange (Nepse). Of the total, the Class A companies witnessed trading of Rs 1.90 billion worth stock trading in four days trading in a week, the data revealed.
Though surge in stock prices have benefiting the shareholders, there is no fundamental basis of the surge of around 72.40 points – in four days – to close the market at 805.65 points on Thursday from the opening of 733.25 points.
The big players, who are planning to exit the market, might be manipulating the market as the increment in the share prices have neglected fundamental and technical basis.
According to the Pivot Point calculator, the Nepse could face resistance at 830 points if it continue to look up, or gets support at 781.91 points, if it looks down.
