Banking boosts Nepse Further
Sharesansar, 7th November:
The news of a higher lending growth rate in the Banking sector further uplifted the sentiment of investors towards the Banking sector today. Along with this news, the Nabil Bank Ltd. (NABIL) publication of first quarter net profit of Rs 591.4 million which is higher by 93.71% compared to corresponding quarter, also complemented in this sector increment of 18.97 or 4.65% points. As NABIL is one of the renowned bank in Nepal, its first quarter report has created a high expectation among investors regarding better quarterly reports from the rest of the commercial banks.
The investors such anticipation was seen in the companies like Standard Chartered Bank Ltd. (SCB), Everest Bank Ltd (EBL), Bank of Kathmandu (BOK), Himalayan Bank Ltd. (HBL) and Nepal Investment Bank Ltd. (NIB) as all of the companies scrip made hefty gain. The news of NABIL’s first quarterly report was able to propel its scrip by Rs 131 or 10% to close at Rs 1,447. Similarly, SCB, closed at Rs 2,130, also moved in correlation with the NABIL’s scrip as it also added Rs 130 in its tally.
With more than 65% of Banking sector transactions in the market today, the benchmark Nepse index was able to boost up by double digit of 11.79 points. Last time the local bourse leaped by double digit was on 30th October. The huge movement in Nepse which was mainly depended upon the Others sector in the past days will surely be changed in the upcoming days as the investors' confidence is growing among remaining sectors.
Among other sub-indices, Hydro sector continued its rally today also as it added 15.9 points. All the scrip under this sector added today, AHPL moved up by Rs 4, BPCL gained Rs 11 and CHCL continued its gaining movement by adding Rs 19 in its tally. As for the Development and Finance sector, both went up by 1.68 and 1.9 points respectively. Under Development, Professional Bikas Bank Ltd. (PRBL) has proposed 5.11% cash dividend to its shareholders.
Insurance sector moved up by 3.37 points today as there were only three decliners among 10 scrips traded under it. Likewise, Other sector inclined by 1.18 points whereas Hotels sector plummeted by 6.02 points today. The slump in the Hotels sector came to the drop in the price of Soaltee Hotel Ltd. (SHL) by Rs 5.
Overall there were 97 scrips traded among which 73 scrips increased, 9 remain intact and only 15 scrips decreased. The highest gainer for the day among the general shares was Kailash Bikash Bank Ltd. (KBBL), closed at Rs 165, with Rs 15 or 10.00%. Whereas, Clean Energy Development Bank Ltd. (CEDBL), closed at Rs 182, was the Top Loser with Rs 15 or 7.61% .In case of highest share traded, KIST Bank Limited (KIST), closed at Rs 139, topped with 34,412 units.
In terms of turnover, Bank of Kathmandu (BOK), closed at Rs 629, topped with 22,339 units worth Rs 13,728,228 via 69 transactions; in which Broker No 6 (Agrawal Securities Pvt. Limited) was the most active broker with 39.40% stand alone dealing of BOK, tallying 8,830 units worth Rs 5,409,032 via 15 transactions which includes 7 matching transactions of 6,650 units worth Rs 4,068,050.
The total turnover today was Rs 117,895,099 which is comparatively Rs 29,594,353 or 33.52% higher than prior trading session. The incline in turnover was mainly due to high investment in the Banking sector as it occupied more than 70% of the total turnover. Overall 384,191 units of shares were traded via 1,606 transactions with the market capitalization of Rs 449,882.43 Millions.
