CORRECTION IN NEPSE
Sharesansar, 22nd November:
Following the yesterday’s decline of 2.20 points, today also Nepal Stock Exchange (Nepse) made a correction of 2.24 points to close at 497.07 level. Since last one month, the benchmark index has surged by more than 10%, it was expected for the index to make a correction. Though the local bourse declined, the turnover amount today also stood over Rs 130 million. With today’s turnover the market has made over Rs 400 million worth of transaction within the last three days of trade indicating a revived strength in the secondary market of Nepal.
The increasing confidence of investors along with other fundamental news like the launch of Mutual Fund, announcement of Budget, better performance of Commercial Banks in the first quarter compared to corresponding quarter will surely provide a platform for better market movement in the upcoming days.
Among the three Banking and Financial Institutions sub-indices, Banking today also plummeted by 2.78 points while Development and Finance sector increased by 0.03 and 0.08 points respectively. In Banking sector today there were only two gainers among 25 scrips traded under it. As for Hotels and Hydro, both also decreased by 2.71 and 16.34 points respectively. Today also fall in the price of Butwal Power Co. Ltd. (BPHL) and Chilime Hydro power Co. (CHCL) by Rs 1 and Rs 26 respectively contributed to sectors downfall.
Whereas, Insurance and Others sectors jumped by 0.34 and 2.35 points respectively. The rise in the Life Insurance Co. Nepal (LICN), Sagarmatha Insurance Co. Ltd (SIC) and Premier Insurance Co. Ltd. (PIC) by Rs 22, Rs 6 and Rs 3 mainly helped to sustain the Insurance sector in green pasture today.
Overall there were 90 scrips traded among which 20 scrips increased, 23 remain intact and only 47 scrips decreased. The highest Gainer of the day was Purnima Bikash Bank Ltd (PURBL), closed at Rs 87, with Rs 5 or 6.1% .Whereas, Pathibhara Bikash Bank Ltd. (PBSL), closed at Rs 96, topped with Rs8 or 7.69% was the top loser for the day. Among the share trading above par value, Reliable Finance Ltd. (RIBSL), closed at Rs 144, was the top gainer with Rs 5 or 3.6%. While, Om Finance Ltd. (OFL), closed at Rs 180, was the top loser with Rs 13 or 6.74%
In terms of highest share traded, Nepal Bangladesh Bank (NBB), closed at Rs 266, topped with 62,133 units. In case of Turnover, Nepal Investment Bank Ltd. (NIB), closed at Rs 771, topped with 22,095 units worth Rs 16,939,099 via 131 transactions; in which Broker No 36 (Secured Securities Pvt. Limited) was the most active broker with 14.72% stand alone dealing of NIB, tallying 3,257 units worth Rs 2,493,572 via 20 buying transactions .
Today overall 405,260 units of shares were traded worth Rs 137,471,989 via 1,728 transactions with the market capitalization of Rs 470,683.60 Millions.
