BANKING, INSURANCE AND HYDRO HELPS NEPSE AVOID HUGE TUMBLE

Sharesansar, 10th July:
   
Though the market bullish streak, observing from past three trading days, came to an end, it was fortunate for the market to drop by only 0.29 points today.

The Nepal Doorsanchar Company Limited (NTC), which is one of the highest capital based company listed in the Nepse, dropped by an astounding figure of Rs 31 attributing to 36.41 points plummet in the Others sector.

The price fluctuation of NTC plays a very vital role in the volatility of Nepse as it is calculated on the basis of the value weighted method. Despite such a huge tumble in one of the major scrip of the market, the market came to close at 502.37 levels  suffering only a 0.29 point loss which itself suggest that the market sentiment is stronger than the previous weeks.

The investors positive sentiments towards the Banking, Insurance and Hydro today mainly helped to offset the massive loss suffered in Others sectors which if not had happened, could have plunged the market in an immensely negative manner which could have scattered the positive momentum build in the past three days.

Insurance gained the highest among the sub-indices with 18 points followed by Hydro with a 8.99 point jump and Banking with a 6.06 points incline. Likewise, Development also contributed with 1.12 points climb.

Apart from the huge tumble of Others sector, Hotels also came down by 1.89 points alongside Finance with 0.15 declines. As for Manufacturing, it remained intact at 879.1 levels.

All in all, the scrips of 89 companies were traded, out of which 46 scrips gained, 19 remained intact and 24 scrips lost. Likewise from today onwards, the share of NDEP Development Bank Limited (NDEP) was resumed because of the cancellation of the merger process with Hama Merchant and Finance Ltd.

The best performer for the day was, Civil Merchant bittya sanstha (CMBSL), closed at Rs 91, with Rs 7 or 8.33% gain.  Whereas, Himalayan Finance Limited (Bittiya Sanstha) (HFL), closed at Rs 39.24, was the worst performer with Rs 2.45 or 5.88% loss.

Among the shares trading above par, Nepal Doorsanchar Company Limited (NTC), closed at Rs 530, was the top loser with Rs 31 or 5.53% loss. Whereas, Business Universal Development Bank Ltd. (BUDBL), closed at Rs 109, was the top gainer with Rs 7 or 6.86% gain.

In case of the highest shares traded among mutual fund, Nabil Balance Fund 1 (NBF1), closed at Rs 9.94, topped with 13,188 units. In case of ordinary scrips, Nepal Credit And Com. Bank (NCC), closed at Rs 230, topped with 36,080 units.

In terms of turnover, Chilime Hydro power Co.  (CHCL), closed at Rs 1160, continues to top with 8,730 units worth Rs 10,069,004 via 44 transactions. The broker with the highest standalone dealing of CHCL was Broker No 33 (Dachinkali Investment Securities Pvt.Ltd) with 29.37%; amounting Rs.  5,913,400 via 3 transactions totaling 5,140 units.

Overall 248,664 units of share were traded via 1,007 transactions worth Rs 87,699,349. The market capitalization at the end of the day stood at Rs 500,692.74 Millions.