NEPSE incline by 0.73 to 579.41; hefty transaction of NCC Bank

Making a see-saw movement, the market index came to avoid a loss by the end of today’s session to sustain in green. The secondary market managed to prolong its incline by a further 0.73 points, to close at 579.41 levels.

NCC Bank marks 17th anniversary

NCC Bank marked its 17th anniversary by organising a blood donation programme on Wednesday. Bank Chairman Prithvi Raj Ligal inaugurated the event which saw around 100 staff, customers, shareholders donate blood, a bank statement said, adding that it will continue such CSR initiatives in the days ahead.

Nepal Bangladesh Bank to auction thousands of promoter & ordinary shares of NBB & NCCB

Nepal Bangladesh Bank Limited has issued a 21-day notice today for the auction of both promoter as well as ordinary shares held by the promoters related to NB Group.

Nepse at 547.6, loss of 4.74 points

Latest flexibility given by the Nepal Rastra Bank (NRB) to Banking and Financial Institutions (BFIs), by prolonging the deadline of meeting the paid up capital, topple the market sentiment today.

Earlier, NRB had directed the Banking and Financial Institutions through monetary policy to raise their paid up capital to the standard set by the NRB within this fiscal year end. However, recently, the NRB has revised this policy and has asked the BFIs to meet the requirement by the end of the next fiscal year.

NEPSE closed at 546.67 suffering a loss of 1.36 points

Down fall in the Insurance and Banking sector after the capitalization of profit in respective sector’s scrips, pushed the Nepse further today.

Yesterday’s low market movement has made the investors skeptic towards a further bullish run for now, making them book their profit from the prior week’s rally.  Mainly, the scrips of Banking and Insurance sector were liquidated today, resulting in plunge of 2.78 and 9.56 points respectively. Both the sectors had a healthy run in the prior week with increment of 2.33% and 3.76% respectively.

NEPSE SKID BY 0.29 POINTS; NBB AND NCCB WITH HEFTY TURNOVER

The benchmark Nepse index today skid by 0.29 points after investors took cautions in their approach.

Failure of round table talks between government, HPLC and 33 party alliances today made the investors reconsider in their holding approach resulting in profit booking from the investors.

Shares provide better returns

Stock investors raked in 20 per cent returns last year, while prevalent interest rates could not even compensate for inflation and gold price has regressed.

Share prices have appreciated by 20.86 per cent, based on the difference of last fiscal year’s closing price and the previous years’ closing price. If an investor had bought shares towards mid-July 2012 and sold near mid-July 2013, the investor earned 10 per cent return, even considering the rate of inflation at 10 per cent. Investors are also eligible to get dividends that amounted to Rs 62.45 per unit on average last year.

Expert Views - NCC & Nepal Bangladesh Bank shares on secondary market

Both the banks NBB and NCC have made exceptional turn around in the past of couple of years. I have a feeling that the traders have always been attracted towards the scripts of the banks for years and with the turn around in the financial performance of the banks the investors have also shown interest towards the scripts, however, with caution.

Nepse index settle at 546.83 levels; loss 0.78 points

After prolonging the height to 550 levels like of yesterday, the market today also couldn’t breach this resistance level.

Following the profit booking from the investors after reaching the height of 550, the market came under sharp pressure attributing to more than 2 points loss in the second hour of trading.

NCC Bank posts 108% growth in profit

NCC Bank has reported a staggering growth in profit for the FY 2069/70.

In an unaudited financial report published on July 31, the bank posted 108.81% growth as it earned Rs 37.08 crore in net profit compared to Rs 17.76 crore in the last fiscal.

NEPSE incline by 1.64 points to 547.61.

   The market index today also showcased the positive sentiment of the investors. But the capitalization of gain in the latter hours deterred the market day’s gain to some extent.

The publication of Nepal Credit and Commerce Bank (NCCB) financial report with an astounding growth figure of 108% in Net profit, tallying to Rs 370.8 million, paved the way for signalling effect among commercial banks’ scrips in the initial hour, boosting the Banking sector by 6 points.

NEPSE at 539.05, Highest of 91 Trading Days

The growing expectation of investors continues to propel the Nepse index today also.

Starting from yesterday’s closing the market index persistently kept up with its bullish rally till the end of the today’s session attributing to 4.83 points surge.

With today’s progress, the local bourse came to settle at 539.05 levels which is 91 trading day’s high; last time it came across this level was in the month of March, 2013.

Nepse leaps by 5.15 Points; Insurance gain 60 points, EBL at Rs 1739.

Continuing the prior week’s dazzling performance, the secondary market today made a leap of 5.15 points.
 As the market has been gaining positive momentum from the past two weeks, the confidence among the investors towards the market is getting stronger every day.

The rise in the confidence sided by the investors' expectation of higher returns from the companies have kept the market so lively in recent days.

NRB's new monetary policy out, favorable for stock investors

Through its monetary policy released today, the central bank has slashed the requirements of cash reserve ratio by 1%, 5% for ‘A’ Class commercial banks, 4.5% for ‘B’ Class development banks and 4% for ‘C’ Class finance companies.

The reduction in CRR by 1 percent will generate more than Rs 10 billion in terms of liquidity for investment which will help to decrease market interest rate. This will have a positive effect in the share market.

Eight banks likely to issue bonus shares to meet NRB rule

Nepal Rastra Bank’s new monetary policy has given commercial banks one more year to meet the minimum paid up capital requirement of Rs 2 arba. The monetary policy leaves eight commercial banks out of 31 with two choices: either issue bonus shares or opt for merger.

Nepal Credit and Commerce Bank (NCCB) is distributing of 5 percent bonus share certificate from 20 July, 2013 (6 Shrawan. 2070)

Nepal Credit & Com. Bank Ltd has issued notice regarding the distribution of 5 percent bonus share certificate from 20 July, 2013 (6 Shrawan. 2070).
src: sharesansar
 

NDEP calls for sealed-bids for 2,95,347 promoter shares of NB Bank and NCC Bank

NDEP Development Bank has called for sealed-bids for the promoter shares of Nepal Bangladesh Bank and Nepal Credit and Commerce Bank that were used as collateral for taking out loans from the bank.

The shares are owned by the promoters of NB Group, Purna Bahadur Shrestha, Laxmi Shrestha, Winson Shrestha, and their subsidiaries Shangrila Investment Pvt. Ltd.

NDEP, in an announcement published on July 8, has said that the decision to auction the shares was taken after the debtors failed to pay back the loan amount despite repeated requests and a 35-day notice warning them of the auctioning of the shares against which the loans were issued.

Nepal Credit and Commerce (NCC) Bank introduced NCC Visa Debit Card service

Nepal Credit and Commerce (NCC) Bank has introduced NCC Visa Debit Card service. According to a press statement issued on Monday, the bank extended its network of debit cards after it started working together with Visa card of international brands.

The debit card can be used in any ATMs and shopping centres in India and Nepal with Visa logo. NCC Bank has 26 ATMs including eight in different parts of the capital. According to the statement, the bank is planning to start ATM services at Saptari and Pyuthan in the near future.
src: nepalsharemarket