Nepse Incline Despite Low Turnover
Sharesansar, 14th October:
Nepal Stock Exchange after days of low movement today made a surge by 2.19 points. With the nearing of Dashain, most of listed companies are declaring dividend to its shareholders which has helped the market to maintain its current ground, despite falling share trades and turnover in recent days. Today , the turnover came down to Rs 35,141,323 which is way below the daily average of Rs 50 million , and shares traded also came down by 89.37% to 135,553 units compared to prior trading day but still the index managed to make upward progress to the level of 426.62.All in all ,1192 transactions were done with market capitalization Rs 403,992.32 Million at the end of the day.
Though the market didn’t make much of the transaction in the first two hours of the trade, it was only at the last hour of trade the secondary market started to make movement. The main contributor in the local bourse progress was Insurance sector as it added 8.45 points in its tally. The rise in the price of Nepal Life Insurance Co. Ltd. (NLIC) and Prime Life Insurance Company Limited (PLIC) by Rs 45 and Rs 20 mainly help the sector to move upward.
Similarly, Banking, Finance and Development, all three of the Banking and Financial Institutions, sub-indices climbed by 3,0.35 and 0.06 points respectively. Under Finance sector, Seti Finance Ltd.(SFL) proposed to give 10% Cash Dividend and 10% Bonus Share to its shareholders, the news helped the scrip to be the highest gainer for the day as it added Rs 9 or 9.68% to close at Rs 102. Similarly, Fewa Finance Ltd (FFCL) proposed 10.53% cash dividend and ICFC Finance Ltd (ICFC) proposed 8.42% cash dividend to its shareholders but the scrip decreased by Rs 2 to close at Rs 125. Whereas in Devevlopment, the transaction of Diyalo Bikas Bank Ltd. (DBBL) and Professional Bikas Bank Ltd. (PRBL) were suspended as two companies are going in merger process with each other.
One another sector that aided in Nepse growth was Other sector as it added 2.35 points. Among the decliners today were Hotels and Hydro sectors as both came down by 6.4 and 0.14 points respectively. The fall in Hotels came with the drop in Soaltee Hotel Ltd. (SHL) by Rs 5.Whereas in Hydro, the fall in Chilime Hydro Power Co. (CHCL) by Rs 2 mainly caused the tumble in Hydro sector.
Overall there were 96 scrips traded among which 48 scrips increased, 16 remain intact and 32 scrips decreased. The highest loser for the day was Multipurpose Finance Co. Ltd. (MPFL), closed at Rs 99, with Rs 11 or 10%. In terms of highest share traded , Nepal Bangladesh Bank Ltd.(NBBL),closed at Rs 166, topped with 23,193 units.
As for highest turnover, Everest Bank Ltd (EBL), closed at Rs 1134, topped with 7,164 units worth Rs 8,086,290 via 56 transactions; in which Broker no 18 (Sagarmatha Securities Pvt. Limited) was the most active broker with 27.27% stand alone dealing of EBL, totaling 1,956 units worth Rs 2,205,724 via 11 transactions .
