NEPSE RALLY FOR SEVEN CONSECUTIVE TRADING DAY; SCB CONTINUES TO SHINE

Sharesansar, 16th June:

The optimism of investors toward banking scrips continued to boost the secondary market of Nepal to new high.

The benchmark index continuing its rally for seven straight trading day added 11.29 points as more investors and traders opted to accumulate banking scrips post yesterday’s mammoth growth. By the end of the day, the market index settled at 938.85 level.

“With sudden rise in the banking scrips yesterday, the market has become very vibrant,” says one of the investors, “the back to back heavy incline in Standard Chartered Bank Limited has mainly attributed to recent drive in banking scrips.”

“The latest surge in Standard Chartered Bank Limited’s scrips is based on the market rumor of capital increment by the bank,” he further adds.

However, when asked with one of the officials of SCB, he said that they haven’t made any decision related to capital increment and refuted the rumor.

Despite such backdrop, the SCB continued with its upbeat performance as it soared by Rs 222 or 9.34 percent, which is highest among the traded shares today also,  post yesterday’s 10 percent gain. The scrip today closed at Rs 2,598.

Besides, the scrip also had the highest turnover among the traded shares. Altogether 24,239 share units of SCB were traded through 199 transactions worth Rs 60,486,365.

The broker with the highest standalone dealing of the SCB was Broker No 44 (Dynamic Money Managers Securities Pvt.Ltd ) with 15.79 percent totaling 7,676 shares trade amounting Rs 19,112,107 via 57 selling transactions.

The healthy performance in SCB today also sent out a positive signal in other leading banks’ shares like NABIL and EBL, and other remaining banks.

Among 28 banking scrips, there were only two decliners today. Moreover, among the traded banking scrips, 18 scrips had turnover of more than Rs 10 million.

Attributed by such stand out performance, the banking sub-group gained 25.29 points. As for the two remaining banking and financial institutions related sub-indices, Development added 8.73 points but Finance dropped by 4.19 points.

Similarly, Hotels and Insurance inclined by 46.68 points and 43.42 points respectively. While, Hydro and Others suffered loss of 1.89 points and 46.98 points respectively.

All in all, the scrips of 131 companies were traded today, out of which 90 scrips gained, 11 remained intact and 30 scrips lost. Nepal Doorsanchar Company Limited (NTC), closed at Rs 610, was the worst performer among traded shares with Rs 40 or 6.15 percent loss.

The market turnover today stood at Rs 695,668,099, with total number of shares traded at 1,412,546 units which were traded through 4,512 transactions. The market capitalization at the end of the day stood at Rs 957,753.17 Millions.