NEPSE ZIGZAGS ITS WAY UP; HEFTY TRANSACTION OF NBL

Sharesansar, 19th January:

Tackling much of the selling pressure, the stock index late in the day came to flourish by 0.62 points to close at 795.26 levels. With today’s gain, the market has come to sustain rally for eight consecutive trading days.

Witnessing a heap of selling pressure from the initial hour, the local bourse failed to sustain in the north zone. Later, however, overcoming the selling pressure the benchmark index managed to uplift itself to green terrain, but disappointingly after a few minutes it tumbled back deep into the red zone.

Nevertheless, NEPSE index was able to once again find its path up-- following the improvement in the demands of banking and other sectors’ scrips.

Among the banking scrips, Nepal Bank Limited (NBL), closed at Rs 380, witnessed a massive amount of transactions. The scrip today observed a mammoth turnover of Rs 457,139,858 totaling 1,214,703 units which were traded through 126 transactions.

In addition, Kumari Bank Ltd (KBL), Nepal Life Insurance Co. Ltd. (NLIC) and Nepal Credit And Com. Bank (NCCB) also observed a staggering turnover of more than Rs 200 million.

Attributed by such hefty transactions in banking and insurance sectors’ scrips, the market turnover today propelled by 78.14 percent to the total figure of Rs 732,820,918. Last time, the market experienced such a mammoth turnover was on 22nd December during which total turnover stood at Rs 771,677,128.

The total number of shares traded today stood at 1,740,135 units which were traded through 1,984 transactions. The market capitalization at the end of the day stood at Rs 807,848.40 Millions.

Coming to the movement of the sub-indices, Banking was able to add 2.29 points to its tally while Insurance failed to do so as it plunged by 12.46 points. Similarly, Others also suffered a loss of 5.87 points alongside 0.36 point decline of Hotels.

Meanwhile, Hydro today also continued its bull run as it inclined by 4.87 points. Likewise, two of the banking and financial institutions related sub-indices, i.e. Development and Finance advanced by 1.44 and 1.63 points respectively.

Altogether there were trade of 99 scrips, among which 46 scrips gained, 11 scrips remained intact and 42 scrips suffered loss.

The best performer among the traded scrips was Bishwa Bikas Bank Limited (BSBL), closed at Rs 243, with a gain of Rs 22 or 9.95 percent. Whereas, H & B Development Bank Ltd. (HBDL), closed at Rs 70, was the worst performer with loss of Rs 4 or 5.41 percent.