Nepse Wrap up (Review period 24th February, 2012 to 28th February, 2013)
Sharesansar, 1st March:
The market index after increment of 13.89 or 2.62% points in the preceding week, followed this week with a sideways movement within the range of 538 to 545 levels. The benchmark index in comparison to previous closing came down by 1.65 or 0.30% to close at 542.44 levels.
After the consensus among the political parties to form the Chief Justice lead government and even the positive indication from the CJ himself to accept this responsibility created high speculation in the market of the bullish rally. However, the opposition from the Nepal Bar Association followed by petition in the Supreme Court against CJ led government and requirement of making necessary amendments in the interim constitution of the country have made the investors’ wait and watch for the further development.
The hearing of Supreme Court on 7th March regarding the case filed against CJ will be very closely observed by the investor which will surely impact the Nepse movement in the upcoming days. In the midst of all this political development, the turnover of the market for most of the trading day stood over Rs 100 million mark which is a healthy sign of good presence of the buyer as well as sellers in the market.
The total turnover this week was Rs 581.967 million with the daily average of Rs 116.39 million which compared to previous week was lower by Rs 39.16 million or 25.18%, as mentioned above the investors are not making a hefty decision to enter into the market in current scenario which seems to have lowered the turnover this week. The numbers of share traded this week was 1,764,307 units via 6,647 transactions. The market capitalization at the end of the week stood at Rs 522,757.68 million which is lower by Rs 1,333.95 million compared to previous week’s closing.
In sub-indices, only Insurance and Development made the incline of 0.55 and 1.87 points respectively. Whereas, Banking , Finance , Hydro, Hotels, Others and Manufacturing tumbled by 0.88, 0.95, 4.88, 17.01, 7.05 and 10.38 points respectively. Among other sub-indices, Sensitive index decreased by 0.54 or 0.38% to settle at 142.15 levels while Float index also incline by 0.19 or 0.51% points to settle at 37.55 levels.
Under Finance and Development, the scrips of Valley Finance Ltd. (VFL), Manakamana Development Bank Ltd. (MKDBL), Infrastructure Development Bank Ltd. (IDBL) and Yeti Finance Ltd. (YFL) were suspended from this week onwards as the companies are going for merger process with each other to form a commercial bank called Apex Bank. Likewise, the trading of Sangrila Development Bank Ltd. (SADBL) and Bageshwari Development Bank Ltd. (BBBLN) also were suspended as the companies are going for merger process with each other.
Total scrips traded for the week were 118 with 30 gainers, 15 intact and 73 losers; the worst performance in the week was of Infrastructure Development Bank Limited Promoter Share (IDBLPO), closed at Rs 100, with Rs 23 or 18.69% loss. Among the ordinary share, the top loser was Nepal Bank Limited, closed at Rs 686, with Rs 94 or 12.05% loss. Whereas, the best performance was of, National Life Insu. Co. Ltd. (NLICL), closed at Rs 710, with Rs 83 or 13.23% gain.
In case of the highest shares traded and turnover, Nepal Bangladesh Bank Ltd. (NBB), closed at Rs 345, this week also topped with 811 transactions totaling 382,938 units worth Rs 123,955,129; in which Broker No 32 (Premier Securities Company Limited) was the active broker with 16.16% stand alone dealing of NBB, tallying 62,877 units worth Rs 20,033,047 via 84 transactions which includes 5 matching transactions totaling 775 units worth Rs 249,890.
