Ease on margin lending pushes market up by double digit; Index closes at 1566.50 level with turnover above Rs 83.43 crore

The benchmark capital market index, Nepal Stock Exchange (NEPSE), has increased by 11.94 points or 0.77% to close at 1566.50 points. Today, NEPSE Index opened at 1554.62 points and the local bourse was seen in upward trend due to the misleading announcement of 25% bonus share & 15% cash dividend of Nepal Investment Bank after the correction of the notice the market was seen in downward trend. However at the end of the trading day market recovered and ended in green. The reason for the increment of market today might be ease on margin lending since the BFIs are offering easy margin lending credit with low-interest rate to the investors. Also, bonus declaration and book closure from blue chip companies pushes market up.   The total turnover of the day stood above Rs 83.43 crore where more than 16.43 lakh units shares were traded through 8,545 transactions. Nepal Investment Bank Limited (NIB) topped the list of companies in terms of turnover (Rs 7.09 crore) while Gurans Life Insurance Company Promoter Shares (GLICLP) among the most traded shares (1.74 lakhs unit) today. The best performer of the day were RSDC Laghubitta Bikas Bank Limited (RSDC) and Mahila Sahayatra Microfinance Bittiya Sanstha Limited (MSMBS) hitting 10% positive circuit break while Siddhartha Equity Oriented Scheme (SEOS) was the biggest loser today. Sensitive and float index slightly went up by 2.72 points and 0.95 points respectively. Except Manufacturing & Production sub- group, all sub-groups at Nepse landed in green. Sub-indices of insurance surged the most by 55.25 points.