Hope of political stability uplifts Nepse
Sharesansar, 16th September:
The news of President inviting leaders of Big 3 parties along with UDMF for talks regarding solution to the current political deadlock in the country at Sheetal Niwas created a optimistic environment in the market today. Though, the Nepal Stock Exchange was trading below the opening level for the first hour of the trade, the market index gradually started to increase as the reports of dialogues made between President and Parties came into the market. The Top leaders of the four major political parties- UCPN-Maoist, NC, CPN-UML and UDMF—has assured President at Sheetal Niwas that they will endeavor to forge consensus on the contentious issues attached to statute-drafting within today if not they will start working to form an national consensus government to go for the fresh poll which would elect a new CA.
With the dialogues made today, the investors are feeling a sense of optimism as the Parties will have to either revive CA or go for New CA election which will ultimately break the current political scenario of the country creating a favorable environment for investing. Today , the benchmark index added 1.94 points to close at 420.83 level.
Among the sub-indices that boosted up the market index was Hotels sector as it added 3.53% in its tally. Under this, the surge in the Soaltee Hotel Ltd. by Rs 15 mainly contributed in its incline. Similarly, Insurance sector also added 2.87% points as the climb in the scrip of Life Insurance Co. Nepal by Rs 68 along with other 8 scrips help to propel the sector today. After the decline in the Hydro sector in the previous week, it followed today by adding 1.75% points. The increase in the buyers of Chilime at higher level pushed the scrip up by Rs28 helping in Hydro’s climb.
In case of sub-indices related to Banking and Financial Institutions, Banking and Development increased by 0.84% and 0.98% points respectively whereas, Finance sector decreased by 0.05%. Under, Banking sector the increase in buyers of Everest Bank Ltd at higher level pushed the scrip up by Rs 43 today. With the satisfactory dividend proposal from SCB and Nabil in the prior week, the investors are expecting same from this company as well which has led to increase in buyers for this scrip. Similarly, the proposal from Chhimek Laghubitta Bikas Bank Limited, closed at Rs 418, of 17.105% Cash Dividend and 25% Bonus Share aided in its Rs 38 rally today making it the Top gainer of the day.
As for the Others and Manufacturing sub-indices, both lost 1.01% and 2.19% points respectively. The scrip of NTC that was trading above the opening price in the beginning of the session, came to close at 589 losing Rs 6 at the end of the closing, ultimately dragging the Other sector down. Whereas, the fall in the price of Uniliver Nepal Ltd by Rs 322 contributed in Manufacturing sector decline.
Overall there were 94 scrips traded among which 57 scrips increased, 9 remain intact and 28 scrips decreased. The highest loser for the day was Himalayan Gen.Insu. Co.Ltd. (HGI), closed at Rs 138, with Rs 15 or 9.98%. In case of highest share traded, Arun Valley Hydropower Development Company Limited (AHPC), closed at Rs 332, topped with 36,343 units.
In terms of turnover, Chilime Hydro power Co. (CHCL) topped the category. Overall, 13,492 units worth Rs 14,999,196 via 87 transactions were done of CHCL; in which Broker no 19 (Nepal Investment & Securities Trading Pvt.Ltd) was the most active broker with 50.10% stand alone dealing of CHCL , totaling 6,752 units worth Rs 7,515,104 via 10 transactions in which 1 was matching transaction of 220 units worth Rs 243,320.
The total turnover today was 85,050,277 which is comparatively Rs 803,051 or 0.95% higher than prior trading session. Overall 273,488 units of shares were traded via 1,407 transactions with the market capitalization of Rs 398,236.79 Millions.
