NBB SECOND INSTALLMENT PROPELS MARKET TURNOVER; NEPSE INCLINES BY 3.59 POINTS

Sharesansar, 22nd  May:

Nepal Stock Exchange, the only secondary market of Nepal, today witnessed a mammoth transaction. The market turnover today surpassed Rs 500 million mark, to stand at Rs 648.74 million. Last time the market observed such a massive transaction was back in 23rd Dec, 2013 where the turnover tallied to Rs 810.85 million.

The hefty transaction of Nepal Bangladesh bank promoter share (NBBPO) manually ignited the market turnover in such pinnacle position.

Acting upon the agreement reached between the NBB and Bangladesh based IFIC Bank, NB groups’ share at the rate of Rs 260 per share, totaling 694,331 worth Rs 180,526,060 were formally transferred to the IFIC bank through the block transfer provision, in the secondary market today.

Today’s execution was the second phase of the share transfer as per the arrangement between the banks. While, rest of the share transfer worth more than Rs 40 crore is set to be concluded in the next fiscal year  only . After the conclusion of share transfer of the NB group with the Bank Asia Ltd., the IFIC stake in NBB will stand at 51%.

Excluding the NBBPO block transactions also, the market participation was still high compared to other trading days, as the turnover of other general shares stood at Rs 468,219,243 which were carried out by 2,947 transactions totaling 909,996 units.

The scrip with the highest trading among the shares traded in general platform was National LifeInsu. Co.Ltd.  (NLICL) which closed at Rs 3150. Altogether, 23,746 units of shares were traded through 360 transactions worth Rs 74,534,175.

The broker with the highest standalone dealing of the NLICL was Broker No 28 (Shree Krishna Securities Limited) with 24.06 percent totaling 11462 shares trade amounting Rs 35877918 via 19 transactions which includes one2 matching transaction totaling 198 units worth Rs 623,700.

Fuelled by such healthy participation in the market today, the local bourse came to add further 3.59 points to its tally. Following the gain, the market index came to breach 850 mark to close at 852.06 level.

Among the sub-indices, Hydro sector increased by 57.3 points followed by Insurance and Others with 23.18 points and 10.57 points respectively. Similarly, Development added 4.89 points and Finance incremented by 7.97 points.

Whereas, Hotels, Manufacturing and Banking dropped by 44.65 points, 14.43 points and 0.7 point respectively.

All in all, the scrips of 143 companies were traded, out of which 78 scrips gained, 19 remained intact and 46 scrips lost.

The best performer for the day was, Paschimanchal Bikash Bank (PDBL), closed at Rs 166, with Rs 15 or 9.93% gain. Whereas, the worst performer was, First Microfinance Development Bank Ltd. (FMDBL), closed at Rs 700, with Rs 51 or 6.79% loss.