SIGN OF POLITICAL CONSENSUS UPLIFTS MARKET
Sharesansar, 5th December:
The news of political parties coming near to form a national consensus government has driven up the market today. The benchmark Nepse index in the first hour of trade climbed up to 499.5 levels then gradually decrease in the late hour of the trade. Overall, the local bourse added 8.35 or 1.7% to close at 498.71 levels. Moreover the talks between political parties to form the government under the leadership of Congress have set an optimistic environment among the investors for the upcoming days.
In the sub-indices, apart from Others sector intact position all other remaining sectors had a better run today. The Hydro sector today had the highest gain of 14.9 points; the increase in Butwal Power Co. Ltd. (BPCL) and Chilime Hydro power Co. (CHCL) by Rs 12 and Rs 16 mainly boosted the sector. Similarly, Banking sector too had double digit growth of 13.61 points. Under Banking today, only Lumbini Bank Ltd. (LBL) came down by Rs 4 and KIST Bank Limited (KIST) remain intact at Rs 144 whereas remaining 23 scrips traded under it were better off than yesterday. All the big Banks like SCB, NABIL, HBL, EBL and NSBI added more than Rs 20 in their respective stock price.
As for Development and Finance, both sectors also jump by 0.99 and 0.26 points. Likewise, Insurance sector today ascended by 0.51 points; despite the decline in Life Insurance Co. Nepal (LICN) by Rs 27, the surge in the price level of Sagarmatha Insurance Co. Ltd (SIL) and Nepal Insurance Co. Ltd. (NICL) by Rs 13 and Rs 9 mainly helped the Insurance sector to sustain in green pasture.
Overall there were 85 scrips traded among which 51 scrips increased, 13 remain intact and only 21 scrips decreased. The highest gainer for the day was United Finance Ltd. (UFL), closed at Rs 135, with Rs 12 or 9.76%. Whereas, Tourism Development Bank Ltd. (TDBL), closed at Rs 110, was the highest loser with Rs 10 or 8.33%. In case of highest share traded, KIST Bank Limited (KIST), closed at Rs 144, topped with 40,380 units.
In terms of highest turnover, Nepal Investment Bank Ltd. (NIB), closed at Rs 847, topped with 19,098 units worth Rs 16,097,454 via 88 transactions; in which Broker No 43 (South Asian Bulls Pvt. Limited) was the most active broker with 16.10% stand alone dealing of NIB, tallying 3,071 units worth Rs 2,590,997 via 12 transactions which includes one matching transactions of 104 units worth Rs 88,088.
The total turnover today was Rs 137,756,746 which is comparatively Rs 28,102,059 or 25.63% higher than prior trading session. Overall 367,824 units of shares were traded via 1,490 transactions.
