NEPSE DROP BY MEAGER 0.43 POINT
Sharesansar, 10th December:
The secondary market of Nepal today also continued to make corrections in its level as it came down by 0.43 points. For the most part of the trading today, the local bourse were below the opening level; it was only at the end of the trade that the market index was able to surge above the opening level. However, at the closing period the Nepse retrace back to close at 487.71 levels. Despite the fall, the resistance of Nepse at the lower level of 484 level suggest that the investors’ are still optimistic towards the future of secondary market of Nepal.
The Initial Public Offering of Civil Bank Ltd also impacted on the secondary market of Nepal today as the turnover as compared to previous days has come down. With the pro rata allotment system, the investor finds commercial banks IPO as a very safe investment alternative compare to the primary market due to which most of the investors have diverted from the primary market. The turnover of the market today stood at Rs 57,121,469 with 151,380 shares trade via 866 transactions; the market capitalization at the end of the stood at Rs 462,258.74 Millions.
Among the sub-indices, Insurance were only the incliners with 11.05 points among the seven sectoral indices today whereas Banking and Finance remain intact at their previous level. Under Insurance, the jump in the price of Asian Life Insurance Co. Limited (ALICL), Life Insurance Co. Nepal (LICN) and Nepal Life Insurance Co. Ltd. (NLIC) by Rs 20, Rs 34 and Rs 39 mainly boosted the Insurance sector today.
Among the decliners, Hydro declined by 7.97 points. The fall in Chilime Hydro power Co. (CHCL) by Rs 14 mainly dragged the sector today. Similarly, Hotels and Others were another two decliners with huge points i.e. 8.13 and 8.22 points respectively. The drop in Soaltee Hotel Ltd. (SHL) by Rs 5 mainly contributed in the sector’s decline whereas the decrease in Nepal Doorsanchar Company Limited (NTC) by Rs 7 pulled the Others’ sector.
As for Development, it plummeted by 0.73 points. Under Development, NIDC Development Bank Ltd (NIDC) has decided to distribute 54% bonus share to its shareholders after approval from NRB and its upcoming AGM.
Overall there were 74 scrips traded among which 28 scrips increased, 8 remain intact and 38 scrips decreased. The highest gainer for the day was Asian Life Insurance Company Ltd. (ALICL), closed at Rs 248, with Rs 20 or 8.77%. Whereas, Bhargav Bikash Bank Ltd. (BHBL), closed at Rs 103, was the top loser with Rs 8 or 7.21% loss. In case of highest share traded, Nepal Bangladesh Bank Ltd. (NBBL), closed at Rs 248, topped with 17,960 units.
In terms of highest turnover, Nepal Investment Bank Ltd. (NIB), closed at Rs 832, topped with 8,672 units worth Rs 7,155,446 via 42 transactions; in which Broker No 45 (Imperial Securities Co .Pvt. Limited) was the most active broker with 33.80% stand alone dealing of NIB, tallying 2,930 units worth Rs 2,418,393 via 13 transactions in includes one matching transaction of 70 units worth Rs 57,960.
