NTC DRAGS NEPSE

Sharesansar, 8th April:

Following the yesterday’s surge the market opened in the positive direction today but it has too early to celebrate as the local bourse after 56 minutes of trade made a start plunge downwards to 515.12 levels. With the Nepal Doorsanchar Company Limited (NTC) starting its trade Rs 5 below than of previous day’s closing of Rs 580, the benchmark index came to tremendous pressure resulting in such a plunge.

However, in the midst of the session, the market index again tried to breach the opening level  but each time meet with  resistance and by the end of the day, with the further fall in the NTC, the market index came to halt at 514.9 level suffering 1.12 point loss compare to the previous day’s close.

The scrip of Nepal Doorsanchar Company Limited (NTC) today suffered a hefty loss of Rs 10 which ultimately not only dragged the benchmark index but also derailed the Others sector by 11.75 points. Likewise, Finance and Development also plummeted by 0.77 and 0.01 points respectively.

Whereas, the increment in the scrip of NABIL Bank Limited Promoter Share (NABILP), Nabil Bank Ltd. (NABIL), Nepal Bangladesh Bank Ltd. (NBB) and Standard Chartered Bank Ltd. (SCB) helped to sustain the Banking sector in green pasture by 0.52 points.

Likewise, the ascent in the level of Butwal Power Co. Ltd. (BPCL) by Rs 10 helped to propel the Hydro sector up by 0.31 points. While, the proposal of Nepal Life Insurance Co. Ltd. (NLIC) to distribute 56.31% cash dividend and 70% bonus share in total 126% dividend to its shareholders, has made it one of the attractive scrips in the market. The scrip today also made a boost of over Rs 100 mark, i.e. Rs 104 or 4.93%, which mainly helped to propel the Insurance up by 7.38 points.

Overall there were trades of 85 scrips among which 28 scrips increased 17 remained intact and 40 scrips decreased. The best performer for the day was, Sewa Bikas Bank Limited (Sewa), closed at Rs 118, with Rs10 or 9.26% gain. Whereas, Shrijana Finance (Bittiya SA (SFFIL), closed at Rs 85, was the worst performer with Rs 9 or 9.57% loss. Among the scrip trading above par, National Life Insu. Co. Ltd. (NLICL), closed at Rs 525, was the highest loser with Rs 40 or 7.08% loss.

In case of the highest shares traded, Siddhartha Investment Growth Scheme-1 (SIGS1), closed at Rs 11.48, topped with 141,900 units. In terms of turnover, Nepal Life Insurance Co. Ltd. (NLIC), closed at Rs 2214, topped with 3,884 units worth Rs 8,521,248 via 44 transactions; in which Broker no 28 (Shree Krishna Securities Limited) was the most active Broker with 44.69% stand alone dealing of NLIC, tallying 1,744 units worth Rs 3,808,513 via 12 transactions which includes 2 matching transactions totaling 849 units worth Rs 1,867,800.

Altogether 342,521 units of shares were traded via 1,063 transactions worth Rs 71,754,122; the market capitalization at the day stood at Rs 499,921.35 Millions.