NEPSE INCLINES; CTBNL MASSIVE TRANSACTIONS

ShareSansar, 10th November

With the backing from the Banking sector, the stock market today was able to add one point to its tally to close at 580.45 levels. In the prior day’s session, the decline in the banking and others sectors' scrips in the latter phase tumbled the market index to meager gain of 0.21 points in spite of making more than two points surge in the beginning of the day’s trade.

However, coming today the investor sentiment towards the banking and financial institutions, mainly towards commercial bank scrips remained on an affirmative path through the day’s trade.

Driven by the better quarterly report of some commercial banks and anticipation of the same kind of result from the remaining banks, along with merger news of Global IME Bank (GBIME) and Commerz and Trust Bank Nepal Limited (CTBNL) followed by healthy transaction of Nepal Bank Limited (NBL) and Nepal Bangladesh Bank Limited (NBB) among many more have made Banking alongside Others,  very influential in settling the NEPSE course.

In today’s session, Banking sector at the end of the day settled 0.8 points higher than prior closing whereas Others remain intact at 704.92 levels. Likewise, Hotels, Finance and Insurance both inclined by 1.63, 0.52 and 22.58 points respectively. While, Development dropped by 0.9 points alongside 3.57 point decline of Hydro.

 All in all, 84 scrips were traded, out of which 45 scrips gained, 6 remained intact and 33 scrips lost.

The worst performer among the traded scrips was of Clean Energy Development Bank Limited (CEDBL), closed at Rs 152, with Rs 11 or 6.75 percent loss.

Meanwhile, the speculation of the merger between GBIME, closed at Rs 430, and CTBNL, closed at Rs 215, drove the transactions of both the scrips. As the market is speculating the swap ratio of 10:7, the speculators are highly lured towards the shares of CTBNL, the market today also witnessed massive demand in this scrip, propelling the price of this share by Rs 19 or 9.69 percent, making it the highest gainer in today’s trade.

Similarly, with high demand the transactions of this scrip also made a spike as it turnover stood at a massive amount of Rs 65,268,261 which were carried out through 986 transactions totaling 304,805 units.

The broker with the highest standalone dealing of the CTBNL was Broker No 56 (Sipla Securities Pvt. Limited) with 19.92%; totaling 121,397 units worth Rs 26,001,780 which was carried out by 31 transactions—include 2 matching transactions totaling 2,411 units worth Rs 518,188.

As for Global IME Bank Limited (GBIME), the scrip suffered loss of Rs 14 or 3.15 percent but it too had a hefty turnover of Rs 17,601,434 which were carried out through 134 transactions totaling 40,465 units.

Likewise, the overall market turnover also made an enormous surge of 67.83 percent, breaching the Rs200 million mark in the process. Altogether 1,139,663 units of shares were traded through 2355 transactions worth Rs 230,580,478. The market capitalization at the end of the stood at Rs 588,804.72 million.