NEPSE WITNESS YET ANOTHER CIRCUIT BREAKER; BEYOND 5 YEARS HIGH
Sharesansar, 16th December:
Owing to the latest political development in the country, the Nepal Stock Exchange (NEPSE) today witnessed a 5 percent circuit breaker attributing to the trading halt for the day from 2:32 PM.
With today’s incline of 37.95 points, the stock index came to settle at 771.2 levels which is the 61 months high. Last time the market came across this level was in the month of November, 2008.
Though the today’s trading started an hour late following the technical snag of NEPSE, it had little impact on the investors’ sentiment as within a short span of one and half hour, the market observed three consecutive circuit breaker of 3 %, 4 % and 5 % respectively.
As the investor sentiment towards the market is already on a high note following the election result and BASEL III news, the positive indication by the UCPN (Maoist) to be flexible on its stance and hinting towards participation in constitution assembly has further play the role of catalyst in current market scenario.
Citing positive outlook in the coming days, the investors today also opted to buy scrips even at current high levels.
Constructing further height Banking, Development and Finance today also increased by 51.25, 12.65 and 0.98 points respectively. Similarly, Hydro and Insurance continued to make the hefty surge as both added 81.28 and 45.25 points respectively.
Likewise, Hotels and Insurance also made double digit growth of 27.31 and 21.14 points respectively.
Altogether there were trade of 95 scrips, among which 86 scrips gained, 3 scrips remained intact and 6 scrips suffered loss.
The best performer among the traded scrips was Prime Commercial Bank Limited (PCBL), closed at Rs 550, with a gain of Rs 50 or 10 percent. Whereas the worst performer was NLG Insurance Co. Ltd. (NBB), closed at Rs 735, with loss of Rs 16 or 2.13 percent.
The scrips with the highest turnover in today’s trade was Nepal Bangladesh Bank Ltd. (NBB), closed at Rs 619, with trading of 73,581 units worth Rs 45,428,433 via only 79 transactions.
The total turnover of the market today stood at Rs 331,459,932 which was carried out through 1,342 transactions totaling 673,123 units. The market capitalization at the end of the day stood at Rs 782,672.08 million.
