NEPSE FIVE YEARS AND NINE MONTHS HIGH

Sharesansar, 29th June:

Making a run for four straight trading days, the benchmark index of Nepal breached previous week’s high , 938.85 level, to settle at 943.48 level which is the new five and nine months’ high.

Previously, the market index reached this level was back in September month of 2008 when the local bourse as free falling from 1175 level.

Buoyed by prior week’s buying sentiment, more demand for listed scrips flooded in the market today which propelled the Nepse index by 7.17 points.

As the government is in process of bringing the budget within the mid July, the market confidence has become upbeat in recent days. In addition to the expectation of pro market budget, the anticipation of provision related to new banking and financial institutions has lured the traders and investors towards related sub-groups scrips.

Attributed by such factors, Banking and Development added 9.44 points and 7.21 points respectively.

Along with them, Hydro and Insurance scrips were also desired by the investors and traders today as the sub-groups added 40.02 points and 29.67 points respectively.

Similarly, Hotels was another sub-index to gain 19.68 points.

While, Others and Finance dropped by 11.74 points and 0.2 point respectively.

All in all, the scrips of 132 companies were traded, out of which 84 scrips gained, 11 remained intact and 37 scrips lost.

The best performer for the day were, Pathibhara Bikas Bank Limited (PBSL), closed at Rs 154, and Public Development Bank Limited (PDB), closed at Rs 154, with 10 percent gain i.e. Rs 12 and Rs 14 respectively. Whereas, Prudential Finance Company Limited   (PFIL), closed at Rs 120, was the worst performer today with Rs 6 or 4.76 percent loss.

In terms of turnover, Life Insurance Co. Nepal (LICN), closed at Rs 3800, had the highest turnover today. Altogether, 15,385 share units of LICN were traded through 17 transactions worth Rs 56,214,860.

The broker with the highest standalone dealing of the LICN was Broker No 45 (Imperial Securities Co .Pvt.Limited) with 65.57 percent totaling 20,430 shares trade amounting Rs 73,722,950 via eight transactions, which include three matching transactions tallying 10,000 share units worth Rs 36,053,000.

The market turnover today stood at Rs 609,279,604, with total number of shares traded at 2,568,418 units which were traded through 3,190 transactions. The market capitalization at the end of the day stood at Rs 962,568.13 Millions.