NEPSE MAKES BOUNCE BACK

Sharesansar, 2nd January:

What thought to be a yet another bearish day, turn out to be a recovery day for NEPSE as the local bus coming to the end of the day made a remarkable bounce back of 9.39 points.

With the market observing bearish transition from the start of the session, many thought today also to be yet another declining movement. But, contrary to many investors’ views, the market made a swift recovery from the second hour of today’s session to propel and settle in green terrain—the stock index today closed at 763.76 levels.

Following the past three trading days’ correction and more than 20 point drop in the first hour of today’s session, the market came to hover near the level of 740. However, in the latter phase the demand in the market started to pick up as investors opted to go for buy strategy to take advantage from recent downfall.

Citing the recent hefty correction in the Banking sector, the demand of this sector’s share rose today as Banking sub-indices added 9.39 points whereas, Development and Finance tumbled by 0.58 and 0.61 points respectively.

Apart from the increase in the demand of banking scrips, Hotels, Hydro, Insurance and Others sectors’ scrips demand also surged today. Among the four sub-indices, Insurance made the highest gain of 43.81 points followed by Hotels with an incline of 37.12 points. Likewise, Hydro and Others also made double digit growth of 12.73 and 15.27 points respectively.

Altogether there were trade of 95 scrips, among which 51 scrips gained, 5 scrips remained intact and 39 scrips suffered loss.

The best performer among the traded scrips was Kumari Bank Ltd (KBL), closed at Rs 525, with a gain of Rs 32 or 6.49 percent. Whereas, Gaurishankar Development Bank Ltd.  (GSDBL), closed at Rs  95, was the worst performer with loss of Rs 10 or 9.52 percent.

The scrips with the highest turnover in today’s trade was Nepal Bangladesh Bank Ltd. (NBB), closed at Rs 624, with trading of 65,014 units worth Rs 39,805,442 via only 121 transactions.

The Broker with the highest transaction of NBB was Broker no  32 (Premier Securities Company Limited) with 19.59% standalone dealing of the NBB, tallying 25,525 units worth Rs 15,595,275 via 25 transactions which includes 2 matching transactions totaling 4,000 units share worth Rs 2,432,000.

The total market turnover today tallied at Rs 353,137,747, totaling 795,556 units of share which were traded through 2,513 transactions. The market capitalization at the end of the day stood at Rs 775,801.14 Millions.