Nepse at 29 month HIGH
, 8th November:
The secondary market of Nepal, Nepal Stock Exchange (NEPSE), today surpassed the 480 level to close at 29 months high of 482.5 level, this level was last reached on the month of June , 2010. In the first half hour of the trade, the high demand in the Banking sector scrips rocketed up the market index by 13.05 or 2.75% nearly causing circuit breakers in the market. But with the progress in the trading session, the gradual decrease in the price of the commercial banks like NABIL, SCB and PRIME limited the local bourse gain to 7.35 points to the end.
Most of Banking scrips today also had a good run. Among the 27 scrips traded under it, only 6 scrips decrease with an average loss less than Rs 2. The quarterly report of Everest Bank Limited (EBL) and Prime Commercial Bank Ltd. (PRIME) which has posted a Net profit of Rs 327.65 million and Rs 89.83 million respectively, had a tremendous positive impact upon both company's scrip and Banking sector. Compare to corresponding quarter both the companies had made a hefty growth ( EBL growth rate: 33.94% and PRIME growth rate: 56.78%).
Though the scrip of PRIME was trading above the yesterday price for most of the trading hours, the last minute trade settled the scrip Rs 1 below yesterday’s closing.Whereas EBL scrip was able to add Rs 83 in its tally, along with its NABIL and SCB also continued its run as both added Rs 57 and Rs 50 respectively. With most of the scrips making good performance, the Banking sector today also propelled by 12.62 points.
Similarly, Development and Finance also continued its rally as both climbed by 2.25 and 1.41 points respectively. The other news related to these two sectors today was about the NDEP Development Bank Ltd. (NDEP) and Hama Merchant and Finance Ltd. (HAMA) trading being suspended as both the companies are going in Merger process with each other. Whereas Hotels increased by 2.27 points.
Altogether there were three decliners in the sub-indices today. Hydro came down by 1.89 points with the fall in the price of Chilime Hydro Power Co. (CHCL) by Rs 4. Likewise Others and Insurance also plummeted by meager 0.14 and 0.13 points respectively.
Overall there were 88 scrips traded among which 55 scrips increased, 8 remain intact and only 25 scrips decreased. The highest gainer for the day was Miteri Development Bank Ltd. (MDB), closed at Rs 153, with Rs 13 or 9.29%. Whereas, Kanchan Development Bank Ltd. (KADBL), closed at Rs 165, was the Top Loser with Rs 6 or 3.51% .In case of highest share traded, Nepal Bangladesh Bank Ltd. (NBB), closed at Rs 205, topped with 56,473 units with an incline in price by Rs 15. The boost in the scrip came from the news of Nepal Rastra Bank approval of letting shares of NB Group and Bank Asia Ltd in NBB to be bought by ICFC Bank of Bangladesh.
In terms of turnover, Standard Chartered Bank Ltd. (SCB), closed at Rs 2180, topped with 7,281 units worth Rs 15,527,358 via 114 transactions; in which Broker No 14 (Nepal Stock House Pvt. Limited) was the most active broker with 19.49% stand alone dealing of SCB, tallying 1,423 units worth Rs 3,025,670 via 21 transactions.
The total turnover today was Rs 150,043,352 which is comparatively Rs 32,148,253 or 27.27% higher than prior trading session. Today also most of the turnover was covered by Banking sector as it occupied more than 81%. Overall 422,024 units of shares were traded via 2,003 transactions with the market capitalization of Rs 456,838.28 Millions.
