NEPSE PLUMMETED BY 1.9 POINTS

Sharesansar, 23^rd May:

The secondary market of Nepal today plummeted by 1.9 points to close at 496.88 levels. The oversupply of shares and absence of buyers in today’s market kept the local bourse tilted towards the red zone for the entire session. The one of the reason for such situation seems to be the IPO (Initial Public Offering) of Mega Bank Nepal Limited which will be commencing from 2^nd June. To accumulate the fund for this IPO, which will be due within 2 weeks time, the investors seem to be liquidating their holding in the market and remain passive in the secondary market for the time being.

Such scenario also impacted most of the sub-indices today as Trading , Development and Insurance were the only sectors to gain about 2.95, 0.32 and 2.2 points respectively. As for Banking and Finance, it plunged by 2.09 and 0.41 points respectively. Whereas, Hotels dropped 0.38 points, Hydro tumbled by 0.03 points and Others made a downfall of 5.88 points.

Overall there were trades of 89 scrips among which 28 scrips increased 14 remained intact and 40 scrips decreased. The best performer for the day was, Chhimek Laghubitta Bikas Bank Limited (CBBL), closed at Rs 476, with Rs 43 or 9.93% gain. Whereas, Agricultural Development Bank Ltd (ADBL), closed at Rs 218, was the worst performer with Rs 14 or 6.03% loss.

In case of the highest shares traded among mutual fund, Nabil Balance Fund 1 (NBF1) , closed at Rs 11, topped with 94,920 units. In terms of ordinary scrips, Commerz and Trust Bank Nepal Ltd. (CTBNL), closed at Rs 143, topped with 28,769 units. In case of turnover, Life Insurance Co. Nepal (LICN), closed at Rs 1110, topped with 9,549 units Rs 10,608,181 via 8 transactions; in which Broker no 13 (Thrive Brokerage House Pvt. Limited) was the most active Broker with 97.82% stand alone dealing of the LICN, tallying 18,692 units worth Rs 20,753,520 via 9 transactions which includes 4 matching transactions of 9,296 units worth Rs 10,320,260.

Altogether there were trade of 293,821 units of share via 1,017 transactions worth Rs 67,862,380; the market capitalization at the day stood at Rs 492,405.22 Millions.