TIMELY FULL BUDGET BOOST MARKET CONFIDENCE

Sharesansar, 14th July:
    
With the country observing a full budget on time for the second time since the constituent assembly in 2006, the market was overwhelmed with positive sentiment today.

In the previous three years, all the budget brought by the then government had been in partial form because of the political mayhem. As the current government is in way to bring full budget worth more than Rs 500 billion, the market is optimistic towards the free flow of liquidity much more stability in economy than the prior years.

The local bourse today gained 4.62 points to close at Rs 511.07 levels

Among the sub-indices, the main sector contributing in Nepse’s growth was Others with 23.49 points followed by Hydro with 23.85 points. Similarly, Banking and Insurance made gain of 1.47 and 1.63 points.

In Banking sector, after the successful merger between Bank of Asia Nepal and Nepal Industrial and Co. Bank, the share transaction of companies under the symbol “NICA” resumed from today. The scrip traded between the range of Rs477 to Rs 504; the scrip closed at the day high of Rs 504.

Likewise, Development and Finance made equal jump of 0.17 points each respectively. As for Hotels, it made incline of 0.38 points.

All in all, the scrips of 79 companies were traded, out of which 41 scrips gained, 15 remained intact and 23 scrips lost.

The best performer for the day was, Union Finance Ltd. (UFCL), closed at Rs 105, with Rs 9 or 9.38% gain.  Whereas, Himalayan Finance Limited (Bittiya Sanstha) (HFL), closed at Rs 32.65, was the worst performer with Rs 2.67 or 7.56% loss.

Among the shares trading above par, Nepal Credit And Com. Bank (NCCB), closed at Rs 212, was the top loser with Rs 10 or 4.50% loss; the scrip also had the highest shares traded with 57,120 units

In terms of turnover, Everest Bank Limited Convertible Preference (EBLCP),closed at Rs 18,048 units worth Rs 15,815,760 via 4 transactions.

In case of ordinary scrips, Nepal Credit And Com. Bank (NCCB) topped with turnover worth Rs 12,228,680 via 126 transactions. The broker with the highest standalone dealing of UNL was Broker No 8 (Ashutosh Brokerage & Securities Pvt. Limited) with 49.94%; amounting Rs.  12,215,180 via 125 selling transactions totaling 57,060 units.

Overall 225,296 units of share were traded via 816 transactions worth Rs 90,593,911. The market capitalization at the end of the day stood at Rs 507,362.44 Millions.