NEPSE DROPS WITH LOW TURNOVER
Sharesansar, 3rd December:
Nepal Stock Exchange today also followed its yesterday’s trend as it came down by 1.87 points to close at 481.93 level. The benchmark index has been following the downward path for now three continuous days. With nearing closing day of Siddhartha Investment Growth Scheme- I, the investors’ seems to have diverted to primary market for now which have resulted in the low turnover in the market in comparison to other trading days.
The most of the sub-indices today also was in red zone; the Manufacturing and Others were only two incliners with 7.74 and 2.35 points. Today, the scrip of Nepal Doorsanchar Company Limited (NTC), closed at Rs 660, increased by Rs 2 which helped in the Others sector growth. As for Banking, Development, Finance, Hotels, Hydro and Insurance sectors, all declined by 2.06, 1.24, 0.56, 5.43, 20.95 and 9.32 points respectively.
The hefty drop in the Hydro was mainly because of the huge decrease in the price level of Butwal Power Co. Ltd. (BPCL) by Rs 33. It seems that the 25% cash dividend proposed by the company yesterday, was less than the expectation of investors which has led to making it less attractive. Similarly, plummet in price of Life Insurance Co. Nepal (LICN) and Nepal Insurance Co.Ltd. (NICL) by Rs 59 and Rs 25 mainly dragged the Insurance Sector. The fall in the NICL was the highest among the scrips traded today, the scrip at the end of the day closed at Rs 290 with loss of 7.94%.
Whereas in Banking, drop in the NABIL, BOK, PRIME, HBL, EBL and KBL by two digits let in the downfall of sector today. Under Development, Tinau Development Bank Ltd. (TDBL) proposal of 15% bonus has been approved by NRB, the news help to propel the scrip by Rs 5 to close at Rs 120.
Overall there were 78 scrips traded among which 17 scrips increased, 9 remain intact and 52 scrips decreased. The highest gainer of the day was Guras Life Insurance Co. Ltd. (GLICL), closed at Rs 156, with Rs 8 or 5.41% loss.
In case of highest share traded and turnover, Bank of Kathmandu (BOK), closed at Rs 605, topped with 22,669 units worth Rs 13,727,763 via 142 transactions; in which Broker No 14 (Nepal Stock House Pvt. Limited) was the most active broker with 21.23% stand alone dealing of BOK, tallying 4,804 units worth Rs 2,914,605 via 29 transactions.
The total turnover for the day was Rs 65,445,126; altogether 157,759 shares were trade via 1121 transactions and the market capitalization at the end of the day stood at 456,691.19 Millions.
