POLITICAL DEVELOPMENT BOOST NEPSE
Sharesansar, 13th March:
With the news of political parties likely to reach an agreement to remove hurdle in the interim constitution and form the Chief Justice led government within a day or so, propelled the confidence in the investors today. After the consensus was reached among four parties to form CJ led government a month back, the local bourse on 17th February made a surge of 25.73 points. But in the following days, the petition filed against Chief Justice and opposition from the Nepal Bar Association along with the need of amending the interim constitution to pave path for CJ led government had made the investors precautionary to fully invest in the secondary market of Nepal.
However with the recent development in the country, the investors’ sentiment seems to be in the positive direction. With the high presence of optimistic investors in the market today, the market index was all in the green pasture. The market opened more than two points over the prior closing today and gradually increased to settle at the day high of 546.14 levels which is 6.5 or 1.2% higher than the previous closing.
The turnover also today surge by an astounding figure as it stood at Rs 237,002,169 which is Rs 117 million or 97.68% higher than prior day’s turnover. This is the second time within the time frame of one month that the Nepse crossed the mark of Rs 200 million, last time the local bourse made the turnover over Rs 200 million was on 19th February totaling around over Rs 256 million which was the second highest in the history of Nepse. The volume of shares traded also rose today as it tallied around 1,107,280 units which were carried out by 1878 transactions. The market capitalization at the end of the day stood around Rs 529,720.86 Millions.
Also, all the sub- indices traded and settled in the green pasture today, the highest gainer was Insurance sector with 13.58 points followed by Hydro with 8.88 points. In Insurance, Nepal Life Insurance Co. Ltd. (NLIC), Life Insurance Co. Nepal (LICN), Siddhartha Insurance Limited (SIL) and Lumbini General Insurance (LGI) boosted by Rs 40, Rs 28, Rs24 and Rs 10 respectively.
Similarly, Banking also boosted up by 7.82 points whereas Development and Finance surged by 1.3 and 0.81 points respectively. Under Banking, the scrip of Everest Bank Ltd (EBL), Nepal Investment Bank Ltd. (NIB), Global IME Bank Limited (GIME), Nepal Bank Limited (NBL), Janata Bank Nepal Ltd. (JBNL), Kumari Bank Ltd (KBL), Sanima Bank Ltd. (SANIMA), Agricultural Development Bank Ltd (ADBL) and KIST Bank Limited (KIST) propelled by double digit today. As for Others and Hotels, they soar by 2.35 and 0.56 points respectively.
Overall there were only 86 scrips traded among which 57 scrips increased 13 remained intact and 16 scrips decreased. The highest gainer for the day was, Siddhartha Insurance Limited (SIL), closed at Rs 267, with Rs 24 or 9.88% gain. Whereas, Gaurishankar Development Bank Ltd. (GSDBL), closed at Rs 79, was the highest loser with Rs 5 or 5.95%.
In terms of highest share trade and turnover, KIST Bank Limited (KIST), closed at Rs 159, topped with 766,665 units worth Rs 117,480,500 via 336 transactions; in which Broker no 43 (South Asian Bulls Pvt.Limited) was the most active Broker with 68.42% stand alone dealing of KIST, tallying 528,105 units worth Rs 80,388,280 via 40 transactions which includes 3 matching transaction totaling 500,715 units worth Rs 76,108,680.
TOP FIVE BROKERS FOR THE DAY: http://www.sharesansar.com/listtopbrokers.php
