NEPSE SURGE BY 2.17 POINTS
Sharesansar, 28th February:
The secondary market of Nepal today climbed by 2.17 points to close at 542.44 levels. The local bourse in the initial time had very low movement as compared to the previous days but with the progress of the session, the increase in participation of the investors gradually uplifted the movement in the market. However, in comparison to prior’s days progress, the benchmark index was less violated as it moved only within the range of 540 to 541 levels for most the time; it was only at the end that the local bourse cross this range to close at 542.44 levels.
The market today saw the trading suspension notice of the Valley Finance Ltd. (VFL), Manakamana Development Bank Ltd. (MKDBL), Infrastructure Development Bank Ltd. (IDBL) and Yeti Finance Ltd. (YFL) as the companies are going for merger process with each other to form a commercial bank called Apex Bank Limited in the near future. After the merger the new bank will have paid up capital of Rs 2.18 billion, Rs 8 billion deposits and Rs 7 billion loan and advances in their portfolio as per the press statement given by the respective banks.
Before the suspension, the closing of VFL, MKDBL, IDBL and YFL were Rs 93, Rs 77, Rs 78 and Rs 142 respectively. However, the transaction will be cancelled of the suspended companies whose transaction held in the market today.
In case of sub-indices , Development made soar of 0.21 points while Finance plunge by 0.32 points. As for Banking, it inclined by 4.12 points as the gain in the scrips of Nepal SBI Bank Limited (NSBI), Nepal Credit And Com. Bank (NCC), Nabil Bank Ltd. (NABIL), Nepal Bangladesh Bank Ltd (NBB) by Rs 37, Rs 20, Rs 18, Rs 17 respectively helped in the sector’s growth.
Similarly, Hydro and Insurance also ascended by 0.96 and 11.39 points. The increase in the scrip of Chilime Hydro power Co. (CHCL) by Rs 21 mainly helped the Hydro sector to sustain in the green pasture today whereas the jump in the scrips of National LifeInsu. Co.Ltd. (NLICL), Life Insurance Co. Nepal (LICN), Sagarmatha Insurance Co.Ltd (SIC) and Nepal Life Insurance Co. Ltd. (NLIC) boosted the Insurance sector. While, Hotels and Others plummeted by 16.82 and 4.7 points respectively.
Overall there were only 77 scrips traded among which 37 scrips increased 13 remained intact and 27 scrips decreased. The highest gainer for the day was, Nepal Credit And Com. Bank (NCC), closed at Rs 228, with Rs 20 or 9.62% gain. There is an assumption in the market that this company may distribute Bonus Share from the profit of fiscal year 2068/69 to its shareholders. Whereas, Kakre Bihar Bikash Bank Ltd. (KKBL), closed at Rs 144, was the highest loser with Rs 16 or 10% loss.
In terms of highest share traded and turnover, Nepal Bangladesh Bank Ltd. (NBB), closed at Rs 328, topped with 76,945 units worth Rs 25,948,975 via 174 transactions; in which Broker no 18 (Sagarmatha Securities Pvt. Limited) was the most active Broker with 13.48% stand alone dealing of NBB, tallying 10,285 units worth Rs 3,499,355 via 14 buying transactions.
Overall, 403,495 units of shares were traded by 1,412 transactions worth Rs 111,204,917; the market capitalization at the end of the day stood at Rs 522,757.68 million.
TOP FIVE BROKERS FOR THE DAY: http://www.sharesansar.com/listtopbrokers.php
