POLITICAL UPHEAVAL IMPACTS NEPSE’S PROGRESS

Sharesansar, 28th May:
    
The incapability of political parties to come to a mutual understanding regarding the key issues related to the election has once again dampen the investors’ confidence despite yesterday’s news of the election date within three days time. The lack of stable political environment has been one of the major reasons in the Nepali market for failing to build a positive momentum and in the current scenario also the upheaval in the political scenario has again created a hindrance in the progress of local bourse.

The market index that surged by more than four points yesterday, today spent most of the session time in the red pasture as the market made a downfall of 2.89 points to close at 500.76 points. Among the sub indices, Banking and Others suffered loss of 4.55 and 4.7 points respectively whereas the rest settled in the green zone. Finance and Development made a jump of 1.65 and 1.94 points respectively. Similarly, Hotels was able to make an upward movement of 1.31 points today. Likewise, Hydro and Insurance made a meager surge of 0.35 and 0.04 points respectively.

Overall there were trades of 92 scrips among which 40 scrips increased 12 remained intact and 40 scrips decreased. The best performer for the day was, Shikhar Insurance Co. Ltd. (SICL), closed at Rs 601, with Rs 54 or 9.87% gain. Whereas, Sahayogi Vikas Bank (SBBLJ), closed at Rs 237, was the worst performer with Rs 62 or 20.74% loss.

In case of the highest shares traded among mutual fund, Nabil Balance Fund 1 (NBF1) , closed at Rs 10.62, topped with 99,256 units. In case of ordinary scrips, Nepal Credit And Com. Bank (NCCB), closed at Rs 211, topped with 59,960 units. In terms of turnover also, NCCB topped with turnover worth Rs 12,644,510 which were carried out by the 53 transactions. The most active Broker with the highest stand alone dealing of NCCB was Broker no 10 (Pragyan Securities Pvt. Limited) with 27.11%, tallying 32,500 units worth Rs 6,857,000 via 19 transactions which includes one matching transactions totaling 5,000 units worth Rs 1,050,000.

Altogether there were trade of 337,637 units of share via 1,334 transactions worth Rs 71,111,405; the market capitalization at the day stood at Rs 496,157.69 Millions.