NEPSE BOUNCE BACK WITH DOUBLE DIGIT

Sharesansar, 5th March:

Following two days of double digit correction, the market today bounced back by 10.42 points. With the incline, the only secondary market of Nepal today closed at 810.47 level.

In the past two trading days, the benchmark index witnessed a downfall of 3.11 percent mainly exerted by profit booking sentiment of the investors. Many also view the fall as the panic selling created by the mid-term review report of the monetary policy that hinted at tightening of the marginal lending.

However, the hefty turnover observed in last two days backed by the late surge in yesterday’s trading proved to be a building block in today’s surge. As many investors are still optimistic towards the future of stock market of Nepal, the last two days’ correction provided buying opportunity for such viewers which was seen in today’s market.

The prior decliners were the winners in today’s trade as banking, insurance and hydro scrips made a hefty climb.

Insurance made the highest gain today as it propelled by 59.65 points followed by Hydro with 27.27 points. Similarly, Banking sub-index also made double digit surge of 11.99 points.

As for remaining two banking and financial sub-indices, Development added 5.47 points and Finance advanced by 0.64 points.  Likewise, Hotels also soar by 14.04 points. While, Others remained intact at 787.14 level.

Altogether there were trade of 122 scrips, among which 76 scrips gained, 10 scrips remained intact and 36 scrips suffered loss.

The best performer among the traded scrips was Prudential Insurance Co. (PICL), closed at Rs 442, with a gain of Rs 40 or 9.95 percent. Whereas, Gaurishankar Development Bank Ltd (GSDBL), closed at Rs 144, was the worst performer with loss of Rs 14 or 8.86 percent.

The company with the highest turnover in today’s session was Nepal Bank Limited (NBL), closed at Rs 329, with turnover of Rs 54,845,186, totaling 170,538 units which were traded through 26 transactions.

 The Broker with the highest transaction of NBL was Broker No 28 (Shree Krishna Securities Limited) with 91.93 percent standalone dealing, totaling 313,779 units worth Rs 100,837,028 via five transactions, which include two matching transactions tallying 156,842 units worth Rs 50,403,124.

The market turnover today stood at Rs 301,750,909, with total number of shares traded at 700,689 units which were traded through 2,204 transactions. The market capitalization at the end of the day stood at Rs 825,644.00 Millions.