NEPSE FALLS DEEP WITH THE PANIC OF INVESTORS

Sharesansar, 22nd April:

The secondary market of Nepal today dropped by a hefty 9.48 points, which is the highest plunge following the decrease of 13.19 points on 17th March, 2013, to close at 504.20 levels; this is the lowest level reached by the benchmark index after climbing up to 555.93 levels on 17th February, 2013.

With the market in the losing streak since last week, the investors are liquidating their shares in fear of more plummet in the index. Along with this investors’ psychology, the news of SEBON’s approval of the new provision to off load the promoter share directly into ordinary share through the secondary market has set more panic and confusion among investors which has ultimately negatively impacted the local bourse in recent days.

Altogether there were trade of eight sectors today, among which Trading soared by 2.52 points. While, Insurance tumbled by a huge 56.94 points  following the heavy decline in Sagarmatha Insurance Co. Ltd  (SIC) and Life Insurance Co. Nepal  (LICN) by Rs 52 and Rs 20 respectively. Also, Hotels decreased by double digit figure of  12.66 points.

Likewise, Others sector also suffered a massive blow as it derailed by 35.23 points following a drop in the level of Nepal Doorsanchar Company Limited (NTC) by Rs 30. Similarly, all the Banking and Financial Institutions sub indices also settle in red as Banking decent by 7.31 points, Development dropped 1.14 points and Finance stumble by 0.75 points. As for Hydro, it came down by 1.81 points.

Overall there were trade of 68 scrips among which 20 scrips increased 7 remained intact and 41 scrips decreased. The best performer for the day was, National Hydro Power Co. (NHPC), closed at Rs 68, with Rs 6 or 8.82% gain. Whereas, Purnima Bikas Bank Limited (PRBL), closed at Rs 66, was the worst performer with Rs 4 or 6.06% loss.

Among the ordinary shares trading above par, Oriental Hotel Ltd. (OHL), closed at Rs 133, was the top gainer with Rs 8 or 6.02% whereas Sanima Bank Ltd. (SANIMA), closed at Rs 262, was the top loser with 15 or  5.73%.

In case of the highest shares traded, Kumari Bank Limited Promoter Share (KBLPO), closed at Rs 100 topped with 120,000 units. Among the ordinary scrips, Nepal Bangladesh Bank Ltd.  (NBB), closed at Rs 307, topped with 29,538 units.

In terms of highest turnover, Nepal Investment Bank Ltd. (NIB), closed at Rs 707, topped with 26,246 units worth Rs 18,462,063 via 98 transactions; in which Broker no 6 (Agrawal Securities Pvt. Limited) was the most active Broker with 45.88% stand alone dealing of NIB, tallying 12,050 units worth Rs 8,470,584 via 14 transactions which includes 8 matching transactions totaling 11,238 units worth Rs 7,894,910.

Altogether there were trades of 361,014 units of shares via 1,062 transactions worth Rs 120,988,550 which is higher by Rs 15,286,893 or 14.46% than prior day’s trade; the market capitalization at the day stood at Rs 491,581.71 Millions