NEPSE BREACH 900 LEVEL

Sharesansar, 12th June:

Nepal Stock Exchange settled above 900 level after a hiatus of six and half years as investors and traders indulged in creating position.

The Nepse index today gained 5.08 points to close at 904.61 level.

Last time, the market closed around this level was back in October month of 2008, when the secondary market was free falling from 1175 level.

Though in the initial period investors and traders were cautions after yesterday’s late profit-booking, the buying spree in banking scrips later fueled the market growth.

 “The trading sentiment remained extremely bullish on continued high turnovers, and persistent buying by retail investors, driven by upcoming budget,” says one of the brokers.

“The demand in banking shares in recent days has been making quite an impact on market transition,” he adds further.

Lately, the banking sector alone is covering more than 60 percent of overall market turnover. Today too, the sector weighted 70 percent of the total market turnover of Rs 532.92 million.

 Similarly, the sector has made healthy growth recently as it has gained 30 points in the previous four days. Today also, it rallied by 9.9 points.

Likewise, Finance, another sub-group related to banking and financial institutions, added 3.05 points while, Development declined by 0.18 point.

As for remaining sub-indices, Trading and Hotels surged by 3.13 points and 14.39 points respectively, and Hydro, Insurance and Others suffered loss of 7.76 points, 3.3 points and 5.87 points respectively.

All in all, the scrips of 138 companies were traded today, out of which 66 scrips gained, 16 remained intact and 56 scrips lost.

The best performer for the day was, Everest Insurance Co. Ltd. (EIC), closed at Rs 409, with Rs 37 or 9.95 percent gain. Whereas, Vibor Bikas Bank Limited (VBBL), closed at Rs 128, was the worst performer among shares with Rs 8 or 5.88 percent loss.

In terms of turnover, Nepal Credit And Com. Bank (NCCB), closed at Rs 538, had the highest turnover today. Altogether, 114,613 share units were traded through 255 transactions worth Rs 61,405,414.

The broker with the highest standalone dealing of the NCCB was Broker No 10 (Pragyan Securities Pvt. Limited with 12.24 percent totaling 28,135 shares trade amounting Rs 15,037,110 via 85 transactions, which include two matching transactions tallying 700 share units worth Rs 373,700.