NEPSE increase by 1.67 pts closing at 704.16; KIST huge transaction

Avoiding the path of correction, Nepal Stock Exchange (NEPSE) today recouped its way up to add 1.67 points in its tally. Though the market faded out in its upward movement in the late hours, it still managed to settle above yesterday’s closing at the end.
The market index today closed at 704.16 levels. In spite of profit booking from investors, the stock index seems reluctant to make corrections. Following a slight correction in the early few minutes, the market propelled its way up to the level of 708 levels.

However, latter the market upward drive languished as more investors entered into the market to capitalize their profit. As the market is witnessing a new string of investors, the demand of the scrips is still in the increasing path. With each new day, the secondary market of Nepal is attracting new investors which have been driving the market level and its turnover to new heights.

Coming to observe today’s trade, most of the investors today found eyeing on the Banking scrips. The Banking sector today propelled by 9.62 points, it was the only sector to settle in the green terrain. Under this sector, the trading of Kist Bank Ltd (KIST) was resumed from today as the bank cancelled the merger process with Vibor Bikas Bank Ltd. Following the trading commencement of the KIST, the market witnessed a huge transaction of it. As it is the cheapest scrip among the commercial bank in the market, the demand for it was staggering.

 Altogether 410,470 units of shares were traded through 11 transactions worth Rs 61,269,630. Along with the astounding transactions, the scrip also surged by Rs 13 or 9.49 percent, to close at Rs 150. The Brokers with the highest transaction of KIST were Broker no 42 (Sani Securities Co. Ltd.) and Broker no 45 (Imperial Securities Co .Pvt. Limited) with standalone dealing of 42.64 percent. Both concluded with 3 transactions each worth Rs 52,255,330 totaling 350,370 units; all the 3 transactions were carried out between each other in which Broker no 42 was the seller whereas Broker no 45 was the buyer. As for the movement of other sectors, Insurance suffered the loss of 32.01 points followed by Hotels by a drop of 15.93 points.

Similarly, Others also declined by double digit number totaling 14.1 points. Alongside above sectors, Development, Finance and Hydro also descended by 2.67, 1.31 and 0.6 points respectively. Altogether there were trade of 116 scrips, among which 57 scrips gained, 10 scrips remained intact and 49 scrips suffered loss. The best performer among the traded scrips was Gandaki Bikas Bank Limited (GDBL), closed at Rs 132, with a gain of Rs 12 or 10 percent. Whereas the worst performer was Alliance Insurance Company Limited (AIC), closed at Rs 360, with loss of Rs 40 or 10 percent. The total turnover of the market today decreased to Rs 364,690,921 which was carried out through 2,658 transactions totaling 1,391,891 units. The market capitalization at the end stood at Rs 714,482.28 Millions.-sharesansar