Nepse Wrap up (Review period 3rd to 7th February, 2013)
Sharesansar, 8th February:
Following the UCPN-M chairman, Pushpa Kamal Dahal address to the party’s seventh national convention in Hetauda, to provide a solution to end the current political deadlock in the country, Nepal Stock Exchange (Nepse) escalated up by 5.09 points at the start of the week. But, the day after , the market movement came to a sluggish approach as it only climbed up by 0.54 points and followed with 1.18, 2.14 and 0.57 point plunge in the concluding days. As compared to the previous week’s level, the local bourse is better off with 1.74 points to close at 512.62 levels.
This week saw a two big news in the market, one was the auction of various held companies by (NCM mutual fund – 2059) via NIDC Capital Markets to the general public and institutions. Since, the NCM mutual fund 10 year scheme expired around two months back, the company is in the process of liquidating its shares through an open auction. The scheme holds the stocks of 46 companies like NBL, SCB, HBL, NIC, BOAN, NIB, EBL [For more detail: http://www.sharesansar.com/viewannouncements.php?id=11875 ], the majority it holds the shares of most of attractive shares in todays market.
As per the publication notice of the auction, it has asked to bid for the shares from the time frame of 24th Magh to 9th Falgun 2069 total of 15 days. This has lead to divert of the regular investors towards this auction which has slowed the market movement in recent days.
Another big news in the market was of the Nepal Bangladesh Bank (NBB), as the dominance of NB Group decreased in the institution with the buying of its 18.92% ownership by its another owner IFIC (International Finance Investment and Commerce) Bank Ltd., Bangladesh at Rs 260. Along with it IFIC also bought the 13.27% stake of Bank of Asia Limited, Bangladesh increasing the overall company’s hold to 41.38%.
The market movement of NBB from the start of this week, even before the publication of this news, was in peak indicating the news had reached some of the investors before its publication. This week along the level of the scrip boosted up by Rs 47 or 20.2% to close at Rs 279, making it the highest gainer; the highest level it reached this week was to Rs 309.
Likewise, the scrip also had the highest shares traded and turnover through 986 transactions of 501,269 units worth Rs 137,471,805; in which Broker No 16 (Primo Securities Pvt. Limited) was the active broker with 15.48% stand alone dealing of NBB, tallying 79,740 units worth Rs 21,779,355 via 120 transactions which includes 7 matching transactions totaling 5,300 units worth Rs 1,485,200.
As for sub indices, the plummet in the Oriental Hotel Ltd. (OHL) and Soaltee Hotel Ltd. (SHL) by Rs 14 and Rs 20 dragged the Hotels sector by 36.12 points. Similarly, Finance, Others and Manufacturing tumbled by 0.11, 1.17 and 2.99 points.
Whereas, the surge in the value of Nepal Bangladesh Bank Ltd. (NBB), Nabil Bank Ltd. (NABIL), Everest Bank Ltd (EBL), Nepal Credit And Com. Bank (NCC), Global IME Bank Limited (Global IME) helped to sustain the Banking in green pasture as the sub-indices gain 4.09 points. Similarly, soar in the level of Arun Valley Hydropower Development Company Limited (AHPC) and Chilime Hydro power Co. (CHCL) pushed the Hydro sector further north by 2.75 points.
While, Trading, Development and Insurance also propelled by 6.16, 0.96 and 0.79 points respectively. Among other sub-indices, Sensitive index increased by 0.28 or 0.21% to settle at 133.80 levels while Float index also incline by 0.42 or 1.21% points to settle at 35.25 levels.
Total scrips traded for the week were 120 with 62 gainers, 14 intact and 44 Losers; the highest loser of the week was Nepal Insurance Co. Ltd. (NICL), closed at Rs 256, with Rs 51 or 16.61% .Overall week’s turnover was of Rs 444,849,736 with average of Rs 88,969,947.20 which is higher by Rs 8,696,992.95 or 11% higher than previous week’s average. Overall 1,568,213 units of shares were traded via 5,120 transactions. The total market capitalization at the end of the review period was Rs 494734.79 million which is higher by Rs 2,645.79 million compare to previous trading week’s closing.
For detail information: http://www.sharesansar.com
