BANKING PROPELS NEPSE; TURNOVER CROSS Rs 500 MILLION YET AGAIN

Sharesansar, 15th December:

Market today also continued to witness the impact of BASEL III news as more investors lured towards banking scrips. Coming to the end of the day, NEPSE index propelled further by 19.33 points to close at 733.25 levels.

Alongside the hefty rally, the participation in the market was also much healthier than prior days as the total turnover today crossed Rs 500 million mark. Surpassing yesterday’s turnover figure by Rs 69.66 million or 14 percent, the total turnover today came to tally at Rs 559,818,933 which was carried through 3,189 transactions totaling 1,667,261 units. This is the fourth time the market witnessed turnover over Rs 500 million within last fifteen days.

Of the total market turnover, the banking sector standalone turnover today also continued to cross one third of the total.

Despite hefty increase in banking scrips following the BASEL III news, the investors are still keen to grab the banking scrips. The market today also continued to witness high demand of commercial banks scrip which attributed in creating overall positive scenario for the market.

Other than NABIL Bank Limited Promoter Share (NABILP) decline of Rs 71, all remaining traded banking shares today made double digit leap. Followed by such scenario, the Banking sector today surged by yet another double digit number of 29.1 points.

Alongside Banking, Development and Finance sector also observe healthy demand in the market. Both sectors by the end of the day, made gain of 6.64 and 0.41 points respectively.

Among other sectors, Hydro and Insurance came to make double digit growth of 21.15 and 13.66 points. Similarly, Others also made incline of 5.87 points. Meanwhile, Hotels was the only sector which suffered loss today; the sector dropped by 8.74 points.

Altogether there were trade of 108 scrips, among which 80 scrips gained,  8 scrips remained intact and 20 scrips suffered loss.

The best performer among the traded scrips were Grand Bank Nepal Ltd. (GRAND), closed at Rs 121,  and Prudential Insurance Co.  (PICL), closed at Rs 385, with a gain of Rs 27 and Rs 35 i.e. 10 percent respectively. Whereas the worst performer was Sewa Bikas Bank Limited (SEWA), closed at Rs 157, with loss of Rs 16 or 9.25 percent.

The scrips with the highest turnover in today’s trade was KIST Bank Limited  (KIST), closed at Rs 218, with trading of 283527 units worth Rs 60,068,201 via only 253 transactions.