NEPSE DECLINES AS INVESTORS WAIT FOR NFO
Sharesansar, 18th March:
Following the yesterday's double digit drop, the market index continued to plunge today also as the local bourse came down by 4.64 points to close at 530.57 levels. With the nearing opening date (i.e. On 20th March) of the Nabil Balanced Fund- I (Mutual Fund), the investors seem too reluctant to invest in the secondary market but keen to invest in this mutual fund scheme whose size is Rs 600 million and can reach up to a maximum size of Rs 750 million.
As the previously launched mutual fund, Siddhartha Investment Growth Scheme-1, did well in the market in the first month of trade as it reached a high of Rs 14 (approx) and traded above the range of Rs 13 for most of the period, the investors are expecting similar kind of return from this mutual fund as well. In expectation of such return, the participation and the buying demand in the market seemed low today. The turnover today also came down below the Rs 100 million levels as it stood at Rs 89,630,600 and share traded was at 359,281 units which were carried out by the 1,153 transactions.
Altogether, there were trade of seven sectors today among which Hotels was the only sector that didn’t suffer loss as it remained intact at 663.57 levels. Whereas, Insurance plummeted by the most points as it dropped by 9.84 points. The descent in the level of National Life Insu. Co. Ltd. (NLICL), Siddhartha Insurance Limited (SIL) and Life Insurance Co. Nepal (LIC) by Rs 143, Rs 62 and Rs 25 respectively mainly complemented in the sector’s loss.
Similarly, the double digit loss in the scrip of NABIL Bank Limited Promoter Share (NABILPO), Nabil Bank Ltd. (NABIL), Everest Bank Ltd (EBL), Himalayan Bank Ltd. (HBL), Standard Chartered Bank Ltd. (SCB) and Nepal Investment Bank Ltd. (NIB) pulled the Banking sector down by 6.07 points. Likewise, Hydro, Development and Finance also decreased by 3.04, 1.99 and 1.06 points respectively. As for Others, it skidded by 3.53 points following the fall in the level of Nepal Doorsanchar Company Limited (NTC) by Rs 3.
Overall there were trade of 83 scrips among which only 13 scrips increased 13 remained intact and 57 scrips decreased. The highest gainer for the day was, Nepal Credit And Com. Bank (NCC), closed at Rs 240, with Rs 10 or 4.351% gain. Whereas the highest loser of the day was, Siddhartha Insurance Limited (SIL), closed at Rs 211, with Rs 62 or 22.71% loss; the heavy decline in scrip was mainly because of the price adjustment by the Nepse of 32% bonus share declared by the company.
In case of the highest shares traded, Siddhartha Investment Growth Scheme-1 (SIGS1), closed at Rs 11.54, topped with 85,200 units. In terms of turnover, Global IME Bank Limited (GIME), closed at Rs 526, topped with 16,018 units worth Rs 8,237,988 via 81 transactions; in which Broker no 45 (Imperial Securities Co .Pvt. Limited) was the most active Broker with 26.33% stand alone dealing of GIME, tallying 4,229 units worth Rs 2,168,893 via 9 transactions which includes 3 matching transactions totaling 1,500 units worth Rs 768,500.
TOP FIVE BROKERS FOR THE DAY: http://www.sharesansar.com/listtopbrokers.php
