Nepse Wrap up (Review period 9th March to 13th March, 2014)

ShareSansar, 14th March:

The miserable performance of the NEPSE persisted in this week’s trade also. The market derailed further this week by 22.57 points or 2.80 percent following prior week’s plunge of 20.05 points or 2.43 percent. With the back to back bearish week, the market has now come to settle at one month’s lowest level of 783.08.

The offload of the dividend distributed companies in the market created immense selling pressure from the beginning of this week’s trade which the benchmark index failed to coup up with.

 In addition, the consecutive bearish movement in market further compelled the investors to book their profit to avoid decrease in their earnings which led to more correction this week.

Apart from these things, this period of the year NEPSE tends to go for deeper correction if historical data is to go by. As the market has witnessed the second quarter report of the companies, the investors will be in wait and watch situation for the third quarter report so as to get better picture of dividend prospect from the listed companies for the next fiscal year which attributes to lethargic movement in current time.

This week’s freefall was mainly attributed by the profit booking in banking scrips followed by hydro and insurance scrips. Banking sub-index plunged by 27.03 points this week. Similarly, Insurance suffered loss of 23.77 points and Hydro decreased by 41.14 points.

Likewise, Hotels declined by 119.07 points, Developments dropped by 15.68 points, Finance skid by 6.30 points and Others fell by 9.40 points. As for Trading, it tumbled by 6.34 points.

In case of, Sensitive index, which measures the movement of blue chip companies, it declined by 5.74 points to settle at 169.2 level.  While, Float index, which measures the movement of ordinary shares only, decreased by 1.03 point to settle at 52.91 level.

Altogether, there were 154 traded scrips, among which 34 scrips gained, 18 remained intact and 102 scrips lost.

The best performer this week among the traded scrips was Sindhu Bikas Bank Limited (SINDU), closed at Rs 158, with a gain of Rs 22 or 16.17 percent. Whereas, Siddhartha Development Bank Limited (SDBL), closed at Rs 140, was the worst performer among all with a decline of Rs 23 or 14.11 percent.

The scrip with the highest turnover was Nepal Bank Limited (NBL), closed at Rs 325, with 411,043 units worth Rs 134,873,328 which was carried out by 187 transactions.

The Broker with the highest transaction of NBL was Broker No 28 (Shree Krishna Securities Limited) with 66.53 percent standalone dealing, totaling 546,012 units worth Rs 179,473,076 via 17 transactions, which include four matching transactions, tallying 267,279 units worth Rs 87,848,490.

The total turnover of the market for this week stood at Rs 1,297,995,665, totaling 3,134,786 share units which were traded through 11,563 transactions. The market capitalization at the end of the week tallied at 797,765.8 Millions.