NEPSE CONTINUES ITS BULL RIDE; MASSIVE TRANSACTION OF GBIME

Sharesansar, 7th May:

The stock market of Nepal today surged further by 4.75 points, making it the sixth consecutive rally. Last time, the Nepse index witnessed such consistent performance was back in the month of January, 2014.

Fuelled by the ongoing rally, the benchmark index today came to settle at 866.25 level.

Despite the double digit climb in the initial session of the market, the profit booking in banking shares in latter hours limited the local bourse’s gain to only single digit.

Banking sector, which had observed more than ten points gain in first half, by the end of the day came to drop by 1.01 points. However, banking to market turnover today reached nearly 50 percent which still signals the investors’ appeal towards this sector.

 One of the highly demanded banking scrip in today’s market was Global IME Bank Limited (GBIME), closed at 663. Altogether, 197, 509 shares of GBIME were traded through 616 transactions worth Rs 132,094,235, making it the scrip with highest turnover among all the traded shares today.

The Broker with the highest transaction of GBIME was Broker No 42 (Sani Securities Co. Ltd.) with 8.74 percent standalone dealing, totaling 34,742 units worth Rs 23,107,925 via 44 transactions, which includes three matching transactions tallying 11,074 units worth Rs 7,320,506.

Along with GBIME, there were other three banking, four insurance, two hydro and one finance scrips to breach the Rs 10 million mark.

Attributed by such hefty transaction in most of the traded shares today, the overall market turnover today stood at 598,762,303, which is more than six months’ high. The total shares traded and transactions today tallied at 1,241,634 units and 3,411 times respectively.

As for movement of rest of sub-indices, the inflated insurance sector continued to rise today also as it added 146.65 points. Similarly, Trading inclined by 3.13 points, Finance increased by 0.83 points and Manufactured soar by     55.52 points.

While, Hotels, Development and Hydro suffered loss of 11.33 points, 0.27 points and 5.19 points respectively.

Altogether there were trade of 139 scrips, among which 64 scrips gained, 13 scrips remained intact and 62 scrips suffered loss.

Janaki Finance Ltd. (JFL), Triveni Bikas Bank Limited (TBBL) and Gandaki Bikas Bank Limited  (GDBL) were the top performers today with gain of 10 percent each  i.e. Rs 33, Rs 26 and Rs 20 respectively whereas National Hydro Power Co. (NHPC), closed at Rs 181, was the worst performer with loss of Rs 14 or 7.18 percent.