CORRECTION IN NEPSE

CORRECTION IN NEPSE
Sharesansar, 23rd January:

After more than twelve points surge in past two days, Nepal Stock Exchange today made a correction of 5.44 points to close at 517.19 levels. With the increasing gap of conflict between the government and opposition parties followed by the uncertainty of Madhesi parties’ support to the current government has again set an environment of hesitation among the investors to enter into the secondary market of Nepal.

The positive outlook towards the today’s market transaction was the turnover as it increased by Rs 8.5 million or 12.47% to stand around Rs 76,882,782. The numbers of transaction and shares traded also had a jump today as 936,922 units of shares were traded by the 1,405 transactions.  Whereas, the market capitalization stood at Rs 498,238.83 million at the end of the day.

There were altogether trades of eight sectors today also; in which Trading and Finance sectors made gains of 2.95 and 0.25 points respectively.  The increase in the price of Bishal Bazaar Co. Ltd. (BBCL) by Rs 35 mainly boosted the Trading sector today. Whereas, jump in the value of the Citizen Investment Trust (CIT) by Rs 16 helped to sustain the Finance sector in the positive zone today.

While, drop in the level of Nepal Doorsanchar Company Limited (NTC) by Rs 7 pulled the Others sector down by 8.23 points. Likewise, plummet in the price of Arun Valley Hydropower Development Company Limited (AHPC) and Chilime Hydro power Co. (CHCL) by Rs 8 and Rs 17 respectively dragged the Hydro sector by 9.03 points.

Similarly, Hotels and Insurance made a descent of 3.37 and 0.3 points respectively. Under Insurance, Neco Insurance Co. Ltd. (NIL) has decided to give 11.5% bonus share subject to approval from Beema Samati. Following the news the company’s scrip made a jump of Rs 6 to close at Rs 113 today.

Whereas, Development subsided by 0.56 points; under this sector, the trade of Vibor Bikas Bank Limited (VBBL) resumed after a successful merger process with Bhajuratna Fin. And Sav. Co. Ltd. The scrip traded between the range of Rs 101 to Rs 123; at the end of the trade the scrip reconciled at Rs 101 suffering Rs 11 or 9.82% loss compare to listed price, making the stock highest loser of the day.

As for Banking, it plunged by 6.92 points following the double digit loss in Nepal Investment Bank Ltd. (NIB), Himalayan Bank Ltd.  (HBL), Nabil Bank Ltd. (NABIL),  Standard Chartered Bank Ltd. (SCB) and Bank of Kathmandu (BOK).

Overall there were only 85 scrips traded among which 24 scrips increased, 11 remain intact and 50 scrips decreased. The highest gainer for the day was, Siddhartha Investment Growth Scheme-1 (SIGS1), closed at Rs 13.31, with Rs 1.21 or 10% gain.

In terms of highest share traded and turnover also SIGS1 topped with 727,200 units worth Rs 9,630,995 via 130 transactions; in which Broker no 25 (Sweta Securities Pvt. Limited) was the most active Broker with 27.64% stand alone dealing of SIGS1, tallying, 200,000 units worth Rs 2,662,000 via 9 selling transactions.