CORRECTION IN NEPSE

Sharesansar, 6th January:

Nepal Stock Exchange today again dives in the red zone for correction as the benchmark index plummeted by 1.82 points. Though the market index in the beginning of the second hour of trade tried to make its way back to a green pasture, the selling pressure on the blue chip companies pulled the index down. In spite the fall, the local bourse was able to add some points in the last minutes of the trade  to settle at today’s closing of 531.77 points.

Among the sub-indices Hydro sector came down by most points as it dropped by 5.89 points. Under it, only two scrips were traded i.e. Arun Valley Hydropower Development Company Limited (AHPC) and Chilime Hydro power Co. (CHCL), both decreased by Rs 9 and Rs 19 respectively. Likewise, descend in the price of Standard Chartered Bank Ltd. (SCB), Nabil Bank Ltd. (NABIL), Nepal SBI Bank Limited (NSBI), Bank of Kathmandu (BOK) along with other 16 scrips pulled the Banking sector down by 3.2 points. Similarly, Development sector also plummeted by 0.23 points. In Development, Nirdhan Utthan Bank Ltd (NUBL), closed at Rs 208, has proposed to distribute 11.87% cash dividend and 3.92% bonus share to its shareholders which subjects to approve of NRB and its upcoming AGM. The news helped to soar the scrip today as it added Rs 8 in its tally.

While, Others sector added 1.18 points as the increase in the scrip of Nepal Doorsanchar Company Limited (NTC) by Rs 2 contributed in Other sector’s growth. Likewise, Finance jumped by 1.15 points as the surge in the price of the Citizen Investment Trust  (CIT ) by  Rs 89  mainly boosted the sector level. Whereas, Hotels and Insurance sectors incremented by a meager 0.18 and 0.38 points respectively.

Overall there were 84 scrip traded among which 25 scrip increased, 8 remain intact and 51 scrip decreased. The highest gainer of the day also was Nepal Bank Ltd (NBL), closed at Rs 1138, with Rs 103 or 9.95% gain. Whereas, Zenith Finance Limited (ZFL), closed at Rs 95, was the highest loser with Rs 8 or 7.77%.

In case of highest share traded, Nepal Bangladesh Bank Ltd. (NBBL), closed at Rs 264, topped with 30,739 units. In terms of highest turnover, Everest Bank Ltd (EBL), closed at Rs 1375, topped with 19,711 units worth Rs 27,191,630 via 70 transactions; in which Broker No 10 (Pragyan Securities Pvt. Limited) was the most active broker with 65.51% stand alone dealing of EBL, tallying 12,915 units worth Rs 17,812,750 via 23 transactions which includes 1 matching transaction of 1,500 units worth Rs 2,068,500.   

Altogether today 214,410 shares were traded via 1,091 transactions worth Rs 96,991,655 and the market capitalization at the end of the day stood at 512,305.12 Millions.