NEPSE BREACH 800 LEVEL; WITNESSED TWO CIRCUIT BREAKERS

ShareSansar, February 10:

Buoyed by the agreement between the two largest political parties in the country – the Nepali Congress and the CPN-UML – to form a government under the leadership of NC President Sushil Koirala, the only stock market of Nepal witnessed two consecutive circuits today.

Resuming its trade from yesterday’s closing level; Nepal Stock Exchange Limited (NEPSE) came to hit the first circuit break at 12:13 after the benchmark index surged by 3 percent to reach at 808.75 level, within 13 minutes after the market opened.

Similarly, the local bourse experienced second circuit breaker immediately at 12:33 PM following the 4 percent incline to 808.75 level.

However, later in the session, the market failed to keep up with its rally as the profit booking dragged the market, limiting its incline only to 19.13 points or 2.44 percent.  In spite of its later downfall, the market was still able to sustain a closing level above 800 as the benchmark index settled at 803.13level.

Last time the market observed circuit breaker was observed back in month of December in which the market experienced back to back 5 percent circuit breakers in upward direction followed by 4 percent circuit breaker in a downward direction. During this transition phase, the market witnessed five years’ high closing level of 806.82.

Coming to today’s session, following the hefty surge of NEPSE, the turnover too observed a healthy boost as the total turnover today stood at Rs 400,974,169, which is higher by 60.67 percent than yesterday’s amount. Similarly, the total traded shares stood at 1,199,648 units which were traded through 2,479 transactions.

The boost in the trade was mainly observed in the banking scrips as ten banking shares’ individual turnover stood over Rs 10 million. Apart from them, two of the hydro scrips- Arun Valley Hydropower Development Company Limited and Chilime Hydro power Co. - also witnessed the turnover over Rs 10 million.

The scrip with the highest turnover in today’s market was Nepal Bangladesh Bank Ltd. (NBB), closed at Rs 626, with Rs 30,604,337, totaling 47,960 units which were traded through 87 transactions.

The Broker with the highest transaction of NBB was Broker No 32 (Premier Securities Company Limited) with 9.85 percent standalone dealing, totaling 9,530 units worth Rs 6,028,880 via 12 transactions; which include two matching transactions tallying 2,215 units worth Rs 1,375,190.

Altogether there were trade of 113 scrips, among which 89 scrips gained, 8 scrips remained intact and 16 scrips suffered loss.

The best performer among the traded scrips was Lumbini General Insurance (NABB), closed at Rs 385, with a gain of Rs 35 or 10 percent. Whereas, Lumbini Finance Ltd. (LFL), closed at Rs 205, was the worst performer with loss of Rs 8 or 3.76 percent.

As for the movement of sub-indices, Insurance, Hydro and Hotels were big three gainers with soar by 76.45, 76.4 and 54.78 points respectively.

Similarly, Banking made healthy surge of 20.94, followed by Others with a 5.87 points incline. As for Development and Finance, both incremented by 6.18 and 3.19 points respectively.