Nepse Wrap up (Review period 3rd March to 6th March, 2014)

ShareSansar, 7th March:

After two weeks of Bull Run, the market this week observed correction.  Driven by the profit taking sentiment, the secondary market settled 20.05 points or 2.43 percent below than the prior week’s closing. The local bourse by the end of the week closed at 805.65 levels.

Attributed by the profit booking sentiment, the first two days’ of trade proved to be unfavorable for market as it plunged by 3 percent. Many also view the fall as the panic selling created by the mid-term review report of the monetary policy that hinted at tightening of the marginal lending.

However, the hefty turnover observed in previous two days backed by the late surge a day before proved to be a building block in later day’s rally of 10.42 points. But, the profit taking in banking scrips on last trading day again dragged the market down.

The profit capitalization in banking scrips brought the banking scrip down by 22.48 points this week. Similarly affect were also observed in Development, Hydro and Insurance sectors as all decline by double digit.

Development fell by 17.69 points, Hydro dropped by 51.67 points and Insurance decreased by 10.99 points. Likewise, Finance and Others also suffered loss of 5.49 and 1.17 points respectively.

Hotels are the only sub-index with better performance this week as it added 84.42 points to its tally.

In case of, Sensitive index, which measures the movement of blue chip companies, it declined by 15.24 points to settle at 174.94 level.  While, Float index, which measures the movement of ordinary shares only, decreased by 1 point to settle at 53.94 level.

Altogether, there were 147 traded scrips, among which 30 scrips gained, 10 remained intact and 107 scrips lost.

The best performer this week among the traded scrips was Laxmi Bank Limited (LBL), closed at Rs 577, with a gain of Rs 71 or 14.03 percent. Whereas, Swarojgar Laghu Bitta Bikas Bank Ltd. (SLBBL), closed at Rs 1005, was the worst performer among all with a decline of Rs 205 or 16.94 percent.

The scrip with the highest turnover was Nepal Bank Limited (NBL), closed at Rs 325, with 386,494 units worth Rs 124,138,793 which was carried out by 92 transactions.

The Broker with the highest transaction of NBL was Broker No 28 (Shree Krishna Securities Limited) with 86.36 percent standalone dealing, totaling 668,691 units worth Rs 214,415,546 via 12 transactions, which include five matching transactions, tallying 333,927 units worth Rs 107,070,324.

The total turnover of the market for this week stood at Rs 1,193,656,827, totaling 3,691,366 share units which were traded through 9,514 transactions. The market capitalization at the end of the week tallied at 820,770.3Millions.