POLITICAL FAILURE AFFECT NEPSE
Sharesansar, 29th November:
With the major political parties failing to come to consensus to form a national government as per the date line set by the President, the investors’ expectation of smooth transition in the political scenario of the country has failed once again. The deadlock in the political condition in Nepal has really affected the secondary market movement in recent days. From the day the confrontation between the President and Prime Ministry arise regarding the President call for New Prime Ministerial Candidate, the market index has come down by more than 8 points.
Today also it came down by 3.85 points to close at 488.98 levels. Apart from the initial few minutes, the secondary index traded in the red zone for the entire day. Likewise, all the sub-indices also suffered loss; the highest fall came in the Hotels sector as it came down by 16.27 points. Similarly, Hydro with 7.7 point loss was the second highest decliner, today also all the scrip trade under it came down.
As for Banking and Financial sub-indices, Banking dropped by 5.52, Finance declined by 1.01 and Development plummeted by 0.54 points. The fall in NABIL, SCB, HBL, EBL and BOK by Rs 39, Rs 20, Rs 14, Rs 13 and Rs 10 mainly dragged the Banking sector down. Under Finance, Kathmandu Finance Ltd (KFL) has decided to distribute 8% cash dividend from the profit of F/Y 2068/069, which is subject to approval from NRB and its upcoming AGM.
As for Insurance and Other, both decreased by 0.6 and 1.18 points. Under Insurance, Asian Life Insurance Co. Ltd. (ALICL), closed at Rs 242, has decided to distribute 8.29% bonus share to its shareholders after approval from Beema Samiti and its upcoming AGM; the proposal today helped to propel the scrip by Rs 5. The scrip of Nepal Doorsanchar Company Limited (NTC) which plays a very vital role in the movement in the Nepse for the past three weeks has been traded between the range of Rs 660 to 690, today it closed intact at Rs 660.
Overall there were 78 scrips traded among which 15 scrips increased, 14 remain intact and 49 scrips decreased. The highest gainer of the day was Diprox Development Bank Ltd. (DDBL), closed at Rs 305, with Rs 15 or 5.17%. Whereas, Yeti Finance Ltd. (YFL), closed at Rs 143, was the highest loser with Rs 15 or 9.49%. In case of highest trade share, Nepal Bangladesh Bank Ltd (NBB), closed at Rs 235, topped with 37,501 units.
In case of highest turnover, Nepal Investment Bank Ltd. (NIB), closed at Rs 829, topped with 11,105 units worth Rs 9,017,969 via 56 transactions; in which Broker No 20 (Sipla Securities Pvt. Limited) was the most active broker with 54.28% stand alone dealing of NIB, tallying 6,040 units worth Rs 4,894,880 via 20 transactions which includes one matching transactions of 2,000 units worth Rs 1,600,000.
Overall 199,871 units of shares were traded worth Rs 70,927,683 via 1,114 transactions with the market capitalization of Rs 463,030.94 Millions.
