NEPSE CREATES HISTORY, TRANSACTION OF MORE THAN ONE BILLION RUPEE; CROSS 1080 LEVEL

Sharesansar, 21st July:

In addition to 8.58 points rally, Nepal Stock Exchange today created history by carrying out highest transaction of more than one billion rupee in a single day.

Driven by the investors and traders positive reaction to new monetary policy, the benchmark index came to settle at 1083.55 level with a mammoth market turnover of Rs 1.20 billion.

 This is the first time in the long history of Nepse that the market turnover through general trading only breached one billion rupee threshold.

Prior to today, including the manual trading the secondary market of Nepal had witnessed breach of above mentioned level several times. The highest turnover of market including manual trading till date is Rs 1.51 billion which was carried out on 1st September, 2013.

However, today’s transaction of over Rs one billion has greater significance than priors as it include only trading through general trading platform which indicates increasing market depth.

The hefty transactions of Nepal Bank limited worth Rs 306.15 million mainly propelled the market turnover to such height today.

“If rumors are to go by, the government is planning to inject Rs 2.5 arba in bank to maintain the capital adequacy ratio as set by NRB, because of which the market is lining after this company’s share in expectation of right share,” says one of the investors.

He further adds, “Through the new monetary policy too, the NRB has indicated that it will meet up the capital adequacy ratio and hand over the management because of this also the market is very upbeat about the company.”

The broker with the highest standalone dealing of NBL was Broker No 56(Sri Hari Securities Pvt. Ltd.) with 58.40 percent totaling 754,432 shares trade amounting Rs 357,645,457 via 224 transactions, which include 29 matching transactions tallying 256,518 units worth Rs 121,174,484.

The positive sentiment in NBL and other listed commercial banks helped keep the banking sector above green terrain as the sub-group added 4.54 points.

Similarly, Development gained 28.53 points and Finance inclined by 17.45 points as investors and traders went after the finance and development companies with low capital base.

Likewise, Hotels surged 37.63 points, Insurance climbed 21.32 points, Manufacturing advanced by 30.51 points while, Hydro dropped 7.42 points and Others decreased by 2.35 points.

All in all, the scrips of 148 companies were traded, out of which 102 scrips gained, eight remained intact and 38 scrips lost.

Diprox Development Bank, Infrastructure Development Bank Limited, Karnali Development Bank Limited, Nepal Finance Ltd. and Summit Micro Finance Development Bank Ltd. were the best perfumers’ today with gain of 10 percent each i.e. Rs 126, Rs 22 Rs, 22, Rs 10 and Rs 105 respectively. Whereas, Oriental Hotel Ltd. was the worst performer with loss of Rs 51 or 6.11 percent.