Heavy Fall in Nepse
Sharesansar, 23rd September:
The secondary market of Nepal took a deep dive today as the market index came down by 5.36 points. After the drastic incline in the level of Nepse in previous week, the market index was hovering over the level of 420 last week. But today it couldn’t sustain itself as from the start of the trade the local bourse plummeted downward to close at 415.08 level. Though the market today also had high turnover of over Rs 110 million, over 80% of the turnover was of Banking and Hydro sector which suffered loss today.
Most of the investors today have liquidated the dividend declared companies like CHCL, SCB, Nabil, Nepal SBI, Global IME, Arun Valley at lower level than preceding week’s level, even the scrips of EBL and Prime Commercial Bank Limited which had proposed 30% bonus share and 10% cash dividend dropped by Rs 27 and Rs 7 respectively. As the book closure date is nearing for most of the dividend declared companies, the investors seems to be capitalizing on such scrips current high level.
As most of the decliners scrips were of Hydro and Banking, both sector dropped by 4.76 or 0.57% and 5.91 or 1.63% points respectively. In Banking, among 26 scrips traded under it there were only two gainers whereas in Hydro all the scrips traded under it suffered loss. Similarly, Other suffered the heaviest loss among the sub-indices of 14.1 or 2% points as the scrip of NTC today took a pound of Rs 12 loss. Whereas Development sector declined by 0.5 or 0.2% points.
The gainers in the sub-indices were Finance and Insurance with 1.06 or 0.41% and 0.86 or 0.13% point respectively. In Finance the surge in the price of Citizen Investment Trust by Rs 62 helped the sector to remain floated in the green pasture. Whereas the Rastriya Beema Sansthan proposal of three years dividend is still aiding in its growth as today also the scrip added Rs 114 overall helping in Insurance sector growth. Today, only Hotel sector remain intact at 582.11 level.
Overall there were 93 scrips traded among which 25 scrips increased, 11 remain intact and 57 scrips decreased. The highest gainer for the day was Machhachapuchhre Bank Ltd (MBL), closed at Rs 128, with Rs 11 or 9.40%. Whereas, Central Finance Co. Ltd. (CFCL), closed at Rs 198, was the Top Loser with Rs 12 or 5.71%. In case of highest share traded, KIST Bank Limited (KIST), closed at Rs 115, topped with 74,423 units.
As for highest turnover, Chilime Hydro power Co.(CHCL), closed at Rs 1132, topped the category. Overall 45,792 units via 245 transactions worth Rs 51,960,604 were done of CHCL.
The total turnover today was 126,351,295 which is comparatively Rs 13,056,646 or 11.52% higher than prior trading session. Overall 291,676 units of shares were traded via 1,563 transactions with the market capitalization of Rs 392,887.10 Millions.
