Bank stocks lead market rally, but can the gains last?
Summary
Nepse extended its rally for seven straight sessions before the Dashain holiday, led by banking and insurance shares. Analysts say the gains may continue only if turnover and broader participation improve after the festival.
Key Points
- Nepse rose 42.37 points, or 1.63 percent, over five trading sessions to close at 2,634.17 points before Dashain.
- Banking, life insurance and development bank shares led sector gains, while turnover increased 22.18 percent to Rs22.53 billion.
- Analysts said stronger margin lending, first-quarter earnings expectations and dividend announcements could support the market after the holiday.
- They also warned that SEBON’s transaction-detail disclosure rule for trades above Rs1 million could hurt investor confidence.
