NEPSE INCHES TOWARDS FIVE YEARS’ HIGH; INSURANCE AND MICROFINANCE RULE THE DAY

Sharesansar, 4th May:

Continuing its bull run, the Nepse index added further 7.47 points to its tally today. With the incline the benchmark index has come inch closer towards the five years’ high 831.86 level, which was observed in 23rd February of this fiscal year.  The local bourse today settled at 830.71 level.

The furious gallop of Insurance sector continued to lead the secondary market of Nepal to better performance in today’s session also. Among the 19 scrips traded under insurance sector only two scrips i.e. Shikhar Insurance Co. Ltd. and United Insurance Co.(Nepal)Ltd. witnessed downfall while rest made healthy surge.

Microfinance scrips also enjoyed the similar joyride like that of insurance scrips as all the microfinance scrips propelled by double digit figure today.

In addition, apart from Global IME Bank Limited (GBIME), Nepal Housing And Merchant Fin. (NHMF) and National Hydro Power Co. (NHPC), all the gainers above nine percent in today’s session were of insurance and micro finance companies.

Further, insurance and microfinance scrips were the only shares to be listed in today’s top five gainers. Chhimek Laghubitta Bikas Bank Limited (CBBL), Lumbini General Insurance (LGIL), Nepal Insurance Co.Ltd. (NICL), Shine Resunga Development Bank Ltd.  (SHINE), Swabalamwan Bikash Bank (SWBBL) were the top five with a gain of 10 percent by each .i.e. Rs 89, Rs 43, Rs 52, Rs 47 and  Rs 119 respectively.

Following such a upbeat performance, Insurance sector, which had been experiencing unprecedented triple digit rallies since past few weeks, today also propelled by triple digit figure of 137.94 points-- there were total of seven insurance scrips among the total of 16 gainers above nine percent.

Similarly, Development surged by 12.78 points following gain in six microfinance companies’ of more than nine percent. As for Banking, which had made healthy surge in last trading day, today added only 1.05 points and Finance inclined by 4 points.

Likewise, Hotels also continued with its upbeat performance as it advanced by 53.97 points and  Hydro incremented by 14.7 points.

While, Others suffered loss of 3.53 points and Manufacturing remain intact at 1080.9 level.

Altogether there were trade of 127 scrips, among which 79 scrips gained, 10 scrips remained intact and 38 scrips suffered loss.

 Peoples Finance Limited (PFCL), closed at Rs 117, was the worst performer with loss of Rs 10 or 7.87 percent.

National LifeInsu. Co.Ltd. (NLICL), which closed at Rs 3150, had the highest turnover among the traded scrips today. Overall, 14,711 units of NLICL were traded through 52 transactions worth Rs 44,624,958.

The Broker with the highest transaction of NLIC was Broker No 17 (ABC Securities Pvt. Limited) with 11.73 percent standalone dealing. Altogether, 3,414 units of shares were traded through eight transactions worth Rs 10,469,331.

The market turnover today stood at Rs 395,567,137, with total number of shares traded at 603,530 units which were traded through 2,484 transactions. The market capitalization at the end of the day stood at Rs 847,099.61 Millions.