NEPSE ENDS FY 2070/71 ON POSITIVE NOTE

Sharesansar, 16th July:

The only secondary market of Nepal ended the fiscal year 2070/71 on positive note at 1036.11 level with a gain of 10.42 points.

This fiscal year proved to be a spectacular year for the stock market of Nepal as the Nepse index witnessed more than 100 percent growth in this fiscal year alone.

Driven by the second constituent assembly election and its outcome of Congress led government, the market came to achieve such a marvelous height.

Beginning its level from 509.3, the benchmark index by the end of the fiscal year gained astounding 526.81 points or 103.43 percent compared to last fiscal year 2069/70 gain of 121.3 points or 31.13 percent.

Similarly, the total turnover of the market also observed a staggering growth as the figure stood at 77.58 billion compared to Rs 20.47 billion. The average turnover for this fiscal year stood at Rs 335.85 million.

Coming to today’s trade, the buying spree in banking, hydro, insurance and others shares after two days of correction engulfed the secondary market with positive vive, leading to double digit incline.

Out of the total market turnover of Rs 653.33 million, the banking sector alone covered 50 percent while development and hydro weighted 17 percent each.

Banking sector today increased by 8.23 points, Development added 11.69 points and Hydro gained 42.11 points.

Similarly, Others and Insurance sectors’ advanced by 24.67 points and 42.45 points respectively while, Hotels, Finance and Manufacturing  decreased by 3.84 points, 8.3 points and 12.92 points respectively.

All in all, the scrips of 163 companies were traded, out of which 97 scrips gained, 20 remained intact and 37 scrips lost.

The best performer for the day were, Chhimek Laghubitta Bikas Bank Limited (CBBL), closed at Rs 1463, Lumbini Finance Ltd.  (LFL), closed at Rs 297, and Pathibhara Bikas Bank Limited (PBSL), closed at Rs 341, with a gain of 10 percent by each i.e. Rs 133, Rs 27 and Rs 31 respectively. Whereas, Citizen Investment Trust  (CIT), closed at Rs 3390, was the worst performer today with Rs 210 or 5.83 percent loss.

As for the highest turnover, Nepal Bank Limited (NBL), which closed at 459, had the highest turnover. Altogether, 107,124 share units were traded through 152 transactions worth Rs 48,998,343.

The broker with the highest standalone dealing of the NBL was Broker No 56 (Sri Hari Securities Pvt. Ltd.) with 27.23 percent totaling 58,641 shares trade amounting Rs 26,690,912 via 105 transactions, which include 14 matching transactions tallying 6,300 units worth Rs 2,847,500.