Mutual Fund launch uplifts NEPSE
Sharesansar, 18th November:
Nepal Stock Exchange (Nepse) today was all green as the market index added 11.96 or 2.49% points. In the previous week, the correction in the benchmark Nepse index lets to declining movement. But today, with the start of the fresh trading week, the local bourse had an astounding movement making the index nearer to the 500 level. The closing of the market index at the end of the day was at 492.8 level.
Though the budget of the country is on uncertainty, the investors’ investment decisions seem to be less affected by it. The introduction of Siddhartha Capital Mutual Fund Scheme called Siddhartha Investment Growth Scheme-I (worth Rs 400 million) seem to have played a catalyst role in the today’s market movement. The investors had been hearing about the mutual scheme for the past several months. With the Siddhartha Mutual Fund launch from today, it will come to play as a market maker in the near future helping in sustaining the secondary market of Nepal. Along with it, the first quarterly report of most of the listed companies came into publication in the previous week; the market also seems to have reacted towards this factor as well.
Not only the benchmark index Nepse rallied in the green zone for the entire trading session but all the sub-indices also had a better run than previous week’s closing. Among the sub-indices, Banking sector made the highest gain as it added 17.19 points. Among the 26 scrips traded under it, only 3 declined whereas the scrips like SCB, NABIL, NIB, EBL, HBL, NBB and SBI made more than Rs 20 gain today.
As for Development and Finance, both made climb of 3.51 and 0.75 points respectively. Likewise, Hotels and Insurance made a jump of 8.9 and 10.34 points respectively. Similarly, Hydro and Others have also surged by 9.02 and 8.22 points.
Overall there were 84 scrips traded among which 60 scrips increased, 5 remain intact and 19 scrips decreased. The highest loser for the day was Lumbini Bank Ltd. (LUBL), closed at Rs 251, with Rs 11 or 4.20%. Whereas, Nepal Credit and Commercial Bank (NCCB), closed at Rs 177, was the Top Gainer with Rs 16 or 9.94%. In case of highest traded share, KIST Bank Limited (KIST), closed at Rs 140, topped with 39,575 units.
In case of turnover, Nepal Investment Bank Ltd. (NIB), closed at Rs 732, had the highest turnover with 17,458 units worth Rs 12,498,230 via 101 transactions.
The total turnover today was 98,851,743 which is comparatively Rs 5,535,857 or 5.93% higher than prior trading session. Overall 290,611 units of shares were traded via 1,287 transactions with the market capitalization of Rs 466,636.50 Millions.
