NEPSE TUMBLE TO 108 TRADING DAYS LOW

Sharesansar, 6th May:

The market index today also continued to tumble as it fell down by 6.01 points to close at 481.93 levels. With the market in the continuous downfall, more and more investors are liquidating their shares in a panic. Apart from it, the floatation of 1:9.5 right share of Nepal Bank Limited (NBL) from 23rd May has also put more selling pressure on market to accumulate the fund for this offering.

As the market has come to stumble by more than  67 points from mid March but still the market has faced a lower buying pressure.  The soon to come IPO of Mega Bank Limited and right share of Nepal Bank Limited have limited the buying pressure in the market which in recent days has limited market upward movement. However this scenario today helped to surge the turnover in the market as it jumped by 228.91% to Rs 188,874,861 which were carried out by 842 transactions; the total shares traded today stood at 445,221 units.

Altogether there were trades of six sectors which all settled in the red zone. The sub-index with the highest loss was Insurance with 9.93 points followed by Hydro with a 8.63 point drop. Likewise, Banking also plunge by 8.63 points, Development loss 1.2, Finance plummeted by 0.16 points and Others decreased by 4.7 points.

Among other news, the 8% cash dividend proposed by Gaurishankar Development Bank Ltd. (GSDBL), closed at Rs 71, has been cancelled by NRB which dragged the share price level of Rs 4 today. Similarly, units of Nabil Balance Fund 1 have been listed with stock symbol NBF1 form today onwards; the scrip traded between the range of Rs 10 to Rs 11 today.

Overall there were trades of 72 scrips among which 13 scrips increased 17 remained intact and 42 scrips decreased. The best performer for the day was, Nepal Bank Limited (NBL), closed at Rs 521, with Rs 13 or 2.56% gain. Whereas, National Hydro Power Co. (NHPC), closed at Rs 51, was the worst performer with Rs 4 or 7.27% loss. Among the scrips trading above par, Global IME Bank Limited (GBIME), closed at Rs 435, was the top loser with Rs 30 or 6.45%.

In case of the highest shares traded and turnover, Nepal Bank Limited (NBL), closed at Rs 521, topped with topped with 293,777 units worth Rs 143,006,152 via 120 transactions; in which Broker no 17 (ABC Securities Pvt. Limited) was the most active Broker with 43.57% stand alone dealing of the NBL, tallying 256,045 units worth Rs 124,615,358 via 12 transactions which includes 7 matching transactions totaling 227,772 units worth Rs 110,634,221.