Nepse rebounds along with higher Turnover

Nepal stock exchange gained on the opening day of week, Sunday after plunging for four straight sessions to around low of eight months. The psychology of general investor was haunted by fear on floating promoters¿ shares, political chaos and anxiety on government policies to guide the share market amid the dividend declaration by companies after the spurring profit of fiscal year 2065/66. However, the sole secondary market rebounded from earlier loss to add 2.55 points or 0.42 percent to 617.34 on higher turnover, but yet low for more than seven months.
The turnover at Nepse surged to Rs. 149.399 million with a motivating gain, boosted the outlook of investors to demand for more scrip in coming sessions. The general investor¿s outlook had followed by the bear crawl on fear of government policies to implement the Pan number for trade more than 1 million and disclosure of sources of fund for more than 2 million trades. Likewise, People were selling ahead of Dashain and Tihar to finance their festival even at the lower price, however on the other side some people holding optimistic outlook were buying the scrip.
The sectoral indexes traded at secondary market today witnessed mixed performance. Commercial bank, hydropower and others lead the gaining rally where as rest of the indexes plunged down. Commercial bank having its dominance in trade volume heaved up 2.23 points or 0.37 percent to close at 606.88, led by 9.79 percent rise in price of Lumbini bank (C:314, O: 286), SCB (O: 5039, H: 5197, C: 5089, Rs. +50), SBI (1591, Rs. +31) along with others. Others index rose 8.22 points or (+1.27%) to 653.24 on increase in scrip price of Nepal Telecom(O: 549, H: 558, C: 556). Hydro gained 6.45 points or 0.78 percent, however development bank slid 4.58 points to 665.41, finance plummet 1.14 points to 637.18 and insurance down 0.52 points.
The puff-up in demand of some scrip from commercial sector, hydro sector led domestic blue chip, 78 scrip sensitive index to settle at 157.68 adding 0.26 points or 0.17 percent. 14 commercial banks, 37 finance companies, 15 development bank, 10 insurance companies and one each from hydropower and manufacturing companies are included in sensitive index. Similarly, float Index an indicator of performance of ordinary shares in the market rose 0.06 points to 58.59.
Merely 71 companies registered their presence in the secondary market with 27 gainers and 33 losers. The A-D ratio was maintained at .82. All in all 918185 shares traded today via 1152 transactions. Moreover, Rs. 149399738 turnover was realized along with Rs.429486.31 million market capitalizations. On Thursday, Rs. 108687911 turnover was realized from 180963 shares trade along with Rs.427711.92 million market capitalizations. The increase in volume of trade and turnover signifies that there are lots of buyers in the market having optimistic outlook at near term.
The top five standouts of the day are GFCLPO(260%), LUBL( 9.79%), PRFL( 5.81%), EFL( 5.35%), STFL(4.74%). Whereas, NCM(-7.56%), IMEFI(-6.83%), NCCB( -4.55%), IDBL( -4.51%), SDBL( -4.14%). comprised of the top five losers.