Nepse Wrap up (Review period 18th May to 22nd May, 2014)

ShareSansar, 23rd May:

The stock market of Nepal this week decreased by only 1.14 points-thanks to the bounce back in latter trading days. By the end of the week, the secondary market came to settle at 852.06 level.

Following the persistent bearish movement in the first three trading days of this week, the market had witnessed loss of nearly nine points. However, the back to back bullish run in last two days helped narrow the benchmark index’s loss to meager one point.

Among 167 traded scrips 90 scrips gained, 16 remained intact while only 61 scrips suffered loss. In spite of high incline ratio this week, the local bourse failed to settle on the green as most of the heavy weight shares of insurance, banking and others experienced decline this week.

Following the high decline in insurance scrips, the sub-group plunged by 47.08 points. Similarly, Banking and Others also dropped by 8.21 points and 3.52 points respectively. Likewise, two of the smallest sub-indices, in terms of weightage, Manufacturing and Hotels descended by 29.16 points and 20.82 points respectively.

While, increase in Chilime Hydro Power Co. Ltd. by Rs 173 propelled the Hydro by triple digit figure i.e. 127.20 points. Similarly, Development and Finance were other two sectors to observe increment of 18.52 points and 10.83 points respectively.

In case of, Sensitive index, which measures the movement of blue chip companies, it declined by 0.03 point to settle at 181.31 level.  While, Float index, which measures the movement of ordinary shares only, increased by 0.23 point to settle at 58.42level.

The best performer this week among the ordinary traded scrips was Karnali Development Bank Limited (KRBL), closed at Rs 148, with a gain of Rs 35 or 30.97 percent. Whereas, Cosmos Development Bank Limited  (CSDBL), closed at Rs  129, was the worst performer with a decline of Rs 28 or 17.83 percent.

Among the traded scrips, National LifeInsu. Co.Ltd. (NLICL), closed at Rs 3150, had the highest turnover worth Rs 267,862,631 totaling 87,948 units which was carried out by 267 transactions.

The Broker with the highest transaction of NLICL was Broker No 49 (Online Securities Pvt.Ltd) with 35.51 percent standalone dealing, totaling 63,748 units worth Rs 190,231,020 via 56 transactions, which include 15 matching transactions tallying 24,099 units worth Rs 71,275,135.

The total turnover of the market for this week stood at Rs 2,194,180,218, totaling 5,812,089 share units which were traded through 13,967 transactions. The market capitalization at the end of the week tallied at 869,191.06 Millions

In addition, the transaction of Nepal Bangladesh bank promoter share (NBBPO) as per the agreement between the NBB and Bangladesh based IFIC Bank was carried out on Thursday.
Acting upon the agreement reached between the NBB and Bangladesh based IFIC Bank, NB groups’ share at the rate of Rs 260 per share, totaling 694,331 worth Rs 180,526,060 were formally transferred to the IFIC bank through the block transfer provision, in the secondary market yesterday.

The execution was the second phase of the share transfer as per the arrangement between the banks. While, rest of the share transfer worth more than Rs 40 crore is set to be concluded in the next fiscal year  only . After the conclusion of share transfer of the NB group with the Bank Asia Ltd., the IFIC stake in NBB will stand at 51%.