NEPSE FAILS TO BREACH 500 LEVEL
Sharesansar, 27th November:
The secondary market of Nepal today also declined by 1.69 points to close at 493.16 levels. For a few days now the market index (Nepse) has been trying to breach the 500 points after it made the correction from 501.51 levels on 21st Novemenber. Despite numerous attempts, the market has made a strong resistance at 500 levels. The local bourse have been trading between 490 to 500 levels, now for more than a week and the transactions and turnover in this level has been very high, till today the turnover amount has come to stand more than Rs 600 million in this level.
All in all, with the daily turnover being around an average of Rs 100 million, the participation of investors in the market is increasing day by day. The opening of the Siddhartha Investment Growth Scheme-I in the market from tomorrow will also help to set a favorable movement in the secondary market in the upcoming days.
The market movement of sub-indices today was also not exciting. The Banking sector, which has played a vital supporting role in the recent surge of Nepse, today also declined by 1.64 points. Along with it, other four sub-indices also followed its way as one of the Banking and Financial Institutions sub-indices i.e. Finance sector also came down by 0.62 whereas Development sector made a jump of 1.03 points today. Under Finance, Civil Merchant Bittiya Sanstha Ltd. (CMBSL) has decided to distribute 12% cash dividend subject to approval from NRB and its upcoming AGM.
Similarly, Hydro , Insurance and Other were other decliner with the loss of 4.88, 12.1 and 3.52 points respectively. Under Hydro the plummet in the price of Butwal Power Co. Ltd. (BPCL) by Rs 17 mainly dragged the sector down. Whereas in Insurance, the correction in the price of Nepal Life Insurance Co. Ltd. (NLIC) by Rs 65 after the hefty incline of yesterday mainly pulled the sector down. While the announcement of Lumbini General Insurance Ltd (LGIL), closed at Rs 132, to distribute 9.57% bonus share to its shareholders after approval from Beema Samiti was not able to make a significant contribution to its level as the scrip declined by Rs 2. As for Hotels sector today, it propelled by 12.62 points today making it the highest gainer among the sub-indices.
Overall there were 85 scrips traded among which 23 scrips increased, 11 remain intact and 51 scrips decreased. The highest Gainer of the day was Swabalamwan Bikash Bank (SWBBL), closed at Rs 308, with Rs 28 or 10% .Whereas, Surya Life Insurance Company Ltd. (SLICL), closed at Rs 158, was the top loser with Rs 9 or 5.39.
In case of highest share trade and turnover, Nepal Investment Bank Ltd. (NIB), closed at Rs 822 has proposed to distribute 25% bonus share and 5% cash dividend to its shareholders from the profit of 2068/69 fiscal year, has topped with 31,933 units worth Rs 26,567,398 via 177 transactions; in which Broker No 6 (Agrawal Securities Pvt. Limited) was the most active broker with 17.53% stand alone dealing of NIB, tallying 5,623 units worth Rs 4,658,033 via 13 transactions which includes 3 matching transactions totaling 4,025 units worth Rs 3,332,298.
The total turnover today was Rs 107,650,738 which is comparatively Rs 15,859,221 or 17.27% higher than prior trading session. Overall 281,603 units of shares were traded via 1,394 transactions with the market capitalization of Rs 466,990.25 Millions.
TOP FIVE BROKERS FOR THE DAY: http://www.sharesansar.com/listtopbrokers.php
