NEWS OF POLITICAL CONSENSUS BOOST NEPSE

Sharesansar, 17th February:

Following the news of consensus among the political parties to form a Chief Justice led government; the market today sky rocketed up by astounding 25.73 or 4.85% points breaking the previous year high of 541.1 levels to reach the 38 months high of the index. Previously, the local bourse reached this level was in the month of December, 2012 and before that it was in November, 2009.

The positive political development in the country has immensely boosted up the investors confidence in the market. Within the first 13 minutes the market observed the 3% circuit break then after 15 minutes of cool down time, the market again resumed to observe the 4% circuit break. Then the market opened at 1:03 pm (after 30 minutes cool down time) to observe yet another circuit break as the Nepse touched 5% increment than the previous day closed levels which suspended the market for the whole day. Last time the Nepse had witnessed 5% circuit was in 3rd June, 2012.

Looking at the market movement, there were significant numbers of buyers at higher price. The companies like Nepal Investment Bank Ltd.  (NIB), Agricultural Development Bank Ltd (ADBL), Machhachapuchhre Bank Ltd  (MBL), Global IME Bank Limited  (Global IME), NMB Bank Ltd.  (NMB), Janata Bank Nepal Ltd.  (JBL), Nepal Bangladesh Bank Ltd.  (NBB), Grand Bank Nepal Ltd.  (GRAND), Citizens Bank International Limited (CZBL) made growth of approx. 10% then last traded price level.

Similarly, companies other than financial Institution like Chilime Hydro power Co. (CHCL), Prime Life Insurance Company Limited (PLICL), Arun Valley Hydropower Development Company Limited (AHPC), Nepal Life Insurance Co. Ltd. (NLIC), Life Insurance Co. Nepal (LICN)  surged by 7.81%, 7.59%, 3.81%, 3.94%, 3.95% respectively. While, there were only five loser for the day, they were International Leasing And Fin. Co.        (ILFC) , Bishwa Bikas Bank Limited (BSBL), Biratlaxmi Bikash Bank Limited (BLDBL), Pathibhara Bikas Bank Limited (PBSL) and Subhechha Bikas Bank Limited (SUBBL).  

Among the sub-indices, there were only trades of five sectors in which Banking soar by hefty amount of 36.58 or 7.03% followed by Hydro with 62.05 or 6.08%. Whereas Insurance was in third with incline of 24.94 or 2.93 points. Then were Others, Development and Finance with 14.1 or 1.85%, 1.3 or 0.52 points and 0.57 or 0.23 points ascend respectively.

As the market today didn’t get opportunity to trade like that of normal days because of numerous circuits, the turnover amount only stood at Rs 80,402,320 which were carried out through 533 transactions totaling 163,522 units. The market capitalization at the day was Rs 535,495.54 Millions             

In terms of highest share trade, Nepal Bangladesh Bank Ltd. (NBB), closed at Rs 319, topped with 29,686. In case of  turnover, Chilime Hydro power Co. (CHCL), closed at Rs 1215, topped with 15,472 units worth Rs 18,719,462 via 53 transactions; in which Broker no 50 (Crystal Kanchanjungha Securities Pvt. Ltd.) was the most active Broker with 28.49% stand alone dealing of CHCL, tallying 4,392 units worth Rs 5,334,080 via 7  buying transactions.

TOP FIVE BROKERS FOR THE DAY: http://www.sharesansar.com/listtopbrokers.php