NEPSE Bounce Back
Sharesansar, 4th November:
Nepal Stock Exchange after backtracking on Thursday, today bounce back to make a climb of 4.1 points to close at 452.08 level . As the holidays are now over , the investors are returning to invest in the secondary market of Nepal. The turnover today crossed Rs 70 million which is higher than the previous week daily average of Rs 51 million. With the market in the bullish trend, the turnover in the upcoming days is expected to increase even more which will be very beneficial for the market.
The news of Credit Information Bureau (CIB) blacklisting Jit Bahadur Shrestha –– NB Group’s chairman, along with other counterparts for defaulting on loans helped to boost Nepal Bangladesh Bank (NBB) scrip today. The Bank had also issued a 35 days notice in the name of 11 people close to the NB Group, the key promoter of the bank, asking them to repay loans taken from its subsidiary companies like Nepal Bangladesh Bank, NCC Bank, Siddhi Ganesh Investment, Shangrila Investment, NB Investment, and National Hydropower among others. Both of these actions not only helped the NBB scrip to be the highest gainer, it also built the investors' confidence in Banking sector as a result the sector increased by 5.54 points today.
Among the two remaining Banking and Financial sub-indices, Development sector jumped by 0.89 points whereas Finance sector dropped by 0.29 points. As for other gainers in sectoral indices, Hotels added 6.4 points and Others gained 5.87 points. The incline in Other sector came with the jump in the price of Nepal Doorsanchar Company Limited (NTC) by Rs 5.
Whereas, Hydro and Insurance fell by 0.65 and 0.72 points. The decline in Butwal Power Co. Ltd. (BPCL) by Rs 7 mainly dragged the Hydro sector today. Likewise, the slump in Insurance sector was mainly because of the huge decrease in Sagarmatha Insurance Co. Ltd. (SIC) by Rs 24.
Overall there were 88 scrips traded among which 51 scrips increased, 11 remain intact and 26 scrips decreased. The highest gainer for the day was Nepal Bangladesh Bank Ltd.(NBB), closed at Rs 183, with Rs 16 or 9.58%. Whereas, Kankai Bikash Bank Limted (KNBL), closed at Rs 98, with Rs 7 or 6.67% loss was the Top Loser of the day.
In case of highest share traded and turnover, Nepal NCM Mutual Fund (NCMMF), closed at Rs 26, topped with 400,000 units worth Rs 10,200,000 via 4 matching transactions which was all carried out by Broker No 14(Nepal Stock House Pvt. Limited).
The total turnover today was 72,839,083 which is comparatively Rs 17,459,473 or 31.53% higher than prior trading session. Overall 633,799 units of shares were traded via 1,239 transactions with the market capitalization of Rs 428,100.92 Millions.
