Nepse Wrap up (Review period 4th May to 8th May, 2014)

ShareSansar, 9th May:

The stock market reached 66 months’ high this week following the buying spree in insurance and banking scrips.

Breaching the previous five years’ high of 831.86 level, which was observed in 23rd February of this fiscal year, the benchmark index came to reach 866.25 level, which is five and half years high, on Wednesday.

However, the profit taking by the investors on the last trading day dragged the market down by 9.49 points to settle at 856.76 level.

In spite of latter decline, the local bourse was still better off by 33.52 points than that of prior week’s closing.

The appeal of investors towards the insurance scrips continued to prevail in this week despite its inflated situation. By the end of the week, the insurance sector came to make hefty rally of 245.09 points.

In addition to lure towards insurance scrips, the investors were also drawn towards the banking scrips, which had been in sluggish phase since past few weeks. Following the shift, the banking sector came to witness hefty buying spree, triggering 35.82 points propel in the sub-index.

The attraction towards these two sectors scrips not only boosted the market level but also increased the overall market turnover. The market turnover this week stood at 2.39 billion compared to last week’s figure of Rs 1.45 billion. Similarly, the market came to witness more than Rs 500 million turnovers for three consecutive trading days this week.

As for movement of rest of the sectors, Development and Finance, two of the banking and financial institutions sub-indices, inclined by 20.54 points and 6.10 points respectively.

Likewise, Hydro sector increased by 52.10 points, Hotels sector soar by 32.27 points, Manufacturing surge by 39.95 points and Trading climbed by 0.12 point.

While, Others was the only sector to suffer loss this week. The sub-index came down by 3.53 points.

In case of, Sensitive index, which measures the movement of blue chip companies, it advanced by 6.31 points to settle at 181.32 level.  While, Float index, which measures the movement of ordinary shares only, increased by 2.36 points to settle at 58.6 level.

Altogether, there were 158  traded scrips, among which 108 scrips gained, 8 remained intact and 42 scrips lost.

The best performer this week among the ordinary traded scrips was Innovative Development Bank Ltd. (INDB), closed at Rs 240, with a gain of Rs 66 or 37.93 percent. Whereas, Fewa Finance Co. Ltd. (FEWA), closed at Rs  246, was the worst performer with a decline of Rs 54 or 18 percent.

Among the traded scrips, Global IME Bank Limited  (GBIME), closed at Rs 645, had the highest turnover worth Rs 200,246,707 totaling 304,481 units which was carried out by 1024 transactions.

The Broker with the highest transaction of GBIME was Broker No 45 (Imperial Securities Co .Pvt. Limited) with 10.07 percent standalone dealing, totaling 63,190 units worth Rs 40,365,076 via 84 transactions, which include three matching transactions tallying 20428 units worth Rs 12,844,875.