NEPSE TWO MONTHS HIGH; TURNOVER SURGE PASSED Rs 400 MILLION

Sharesansar, 30th April:

Owing to the latest economic statistics of Nepal—the growth rate is stated to be over five percent after hiatus of seven years—the market sentiment came to gain a positive boost. Fuelled by such sentiment, the market has come to witness a buying spree in most of the listed shares.

The Nepse index today rallied by 6.99 points to close at two months high of 823.24 level.

Banking sector, which was experiencing sluggish transition from past few weeks, today came to surge by 6.27 points. Likewise two of the remaining banking and financial institutions, Development and Finance also increased by 2.13 points and 0.58 points respectively.

Similarly, Insurance continued with its rally as it  added 26.45 points, along with it, Others gained 4.7 points, Manufacturing inclined by 15.57 points and Hotels also advanced by 90.83 points.

Hydro was the only sector to suffer loss today as it dropped by 17.33 points.

In addition to healthy performance of the sub-indices, the market turnover also witnessed a massive surge. The total turnover today tallied at Rs 482.06 million up from Rs 339.98 million of yesterday. The hefty transactions in insurance and banking sectors worth Rs 259.71 million and Rs 104.98 million respectively proved to be propelling factor for today’s turnover surge.

 The numbers of shares traded today stood at 894,283 units and number of transactions stood at 2411 times up from yesterday’s figure of 685,771 share units and 2,286 transactions respectively.

Altogether there were trade of 130 scrips, among which 70 scrips gained, 14 scrips remained intact and 46 scrips suffered loss.

The best performer among the traded shares was Prudential Insurance Co. (PICL), closed Rs 484, with a gain of Rs 44 or 10 percent. Whereas, Peoples Finance Limited (PFCL), closed at Rs 127, was the worst performer with loss of Rs 12 or 8.63 percent.

Nepal Life Insurance Co. Ltd. (NLIC), which closed at Rs 5650, had the highest turnover among the traded scrips today. Overall, 13,544 units of NLIC were traded through 102 transactions worth Rs 76,358,252.

The Broker with the highest transaction of NLIC was Broker No 47 (Neev Securities Pvt. Ltd.) with 24.04 percent standalone dealing. Altogether, 6,516 units of shares were traded through 33 selling transactions worth Rs 36,713,100.

GLOBAL IME TRADING

Global IME Bank Limited share trading resumed from today following its merger with Commerz and Trust Bank Nepal Limited.

Global IME’s shares has debuted at Rs 430 as per the last traded price on November 10, and there are buyers for 4 lakh units of the scrip at Rs 446 per unit soon after the market opened.

It was expected to be traded at the circuit level on the very first day.

“The scrip is expected to trade at the third circuit level for three days in a row, and will continue to rise steadily till it is priced close to the share of NIC Asia,” said Narendra Sijapati, president of the Brokers’ Association.

The scirp today came to close at Rs 472 with a gain of Rs 42 or 9.77 percent. Altogether 60 units of shares were traded through 5 transactions worth Rs 27,270.