Market Watch

16th Aug, 2009 Commentary: Market closes at 721.95 (+ 4.75, + 0.66 %)

Published by Octron on August 16, 2009

We will be updating all the ups & downs of the market TODAY, live from Broker No. 22 !

After sudden spike on last trading day of the week on 12th Aug, 2009. The market opened excellently, today on 16th Aug, 2009. As usual, SCB was the first choice both for the buyers and sellers due to 50% Bonus Share Proposal. The price kept on moving upward till Rs. 6500 (+ Rs.533) and it made bit down turn. The marketplace seems like a large green field today with almost all financial institution share prices moving upward. The recent publication of 4th quaterly financial reports from these institution is also giving boost to postive trend of the index.

Live Market Graph

12:45 PM Due to sudden flood of supply, SCB is seeing sudden dip in its share price from Rs. 6500 to Rs. 6198 (+3.87%). The current gainers are CZBIL Rs. 706 (+3.82%), KMBF Rs. 400 (+3.63%), KMBSL Rs. 795 (+3.25%), DCBL Rs. 429 (+2.88%), NCCB Rs. 363 (+2.83%). Strangely, NIB Rs. 1225 (-1.25%), NBB Rs. 327 (-1.8%), LUBL Rs. 366 (-3.68%) is getting into red zone.

01:00 PM NICB (Rs. 1057, -3.82%) tops the losers chart at the moment, while SCB (Rs. 6199, +3.89%) still maintains as top gainer. NABIL (Rs. 4976, 2.01%) is moving ahead slowly unlike 12th Aug, 2009 huge increament. The trading room now seems more with the sellers than the buyers. People had expected huge rise of the NEPSE today after 3 days of weekend break, unfortunately its not moving up as expected. Current NEPSE Index is 722.87 (+5.67, +0.79 %) points. While Banking Index stand at 770.47 (+8.34,1.09 %) points. Development Banks, Hydropower, Insurance have all fallen into NEGATIVE Red Zone.

1:30 PM As market reached mid day trading, NEPSE didn’t move upward as expected, instead it is slowly slipping down. Investors seems anticipating good news like SCB from other banks BOD meetings, unfortunately apart from speculations nothing official news made to trading room. Market players are speculating about NIB giving Bonus (10%) & Right (2:1) Shares, NABIL 40% Bonus Shares, but all these speculations seem to die as soon as it reaches the trading room. Unless, any confirmed official news hit the trading door, the NEPSE might not move much ahead today.
Till now, SCB has highest turnover Rs. 3,51,81,600. Followed by KMBF (Rs. 15,362,100) and NBB (Rs. 5,399,000). Ruling the Gainer Chart are NABB (306, 3.73%), PFL (Rs. 427, 3.64%), KMBF (Rs. 400, 3.63%), BOAN (Rs. 576, 3.6%), SCB (Rs. 6170, 3.4%), while losers board is ruled by LUBL (Rs. 359, -5.53%) SBL (Rs. 931, -3.02%), NBB (Rs. 325, -2.4%), NICB (Rs. 1075, -2.18%), NHPC (Rs. 98, -2%).

2:45 PM As aforementioned, the INDEX seems to be slipping down with every transaction, the volume of transaction have also slipped down significantly. Current NEPSE 720.09 points (+2.89 pts, +0.4 %), the SCB fizz seems to have lost in a thin air. Top gainers till now are NABB (Rs. 312, +5.76%), SCB (Rs.6200, +3.9%), KMBF (Rs.401, +3.89%), PFL (Rs.427, +3.64%), KMBSL (Rs. 795, 3.25%) while LUBL (Rs. 345, -9.21%), NHPC (Rs.96, -4%), BPCL (Rs. 1128, -3.92%), NICB (Rs. 1060, -3.55%) are the top losers for the moment.

3:00 PM The market closed with last minute jump on some of the top charting shares NABB (Rs. 324, 9.83%),
PFLBS (Rs. 280, 9.8%), PFL (Rs. 443, 7.52%), EBL (Rs. 2650, 6%), PDBL (Rs. 785, 5.65%). Finance Index finally gets into green zone at the last minute closing the day with NEPSE 721.95 (+ 4.75, + 0.66 %). The last minute entrants in the loser zone were BPCL (Rs. 1063, -9.45%), LUBL (Rs. 351, -7.63%), SBSL (Rs. 344, -5.75%), CIT (Rs. 721, -3.74%), SDBL (Rs. 275, -3.51%).

Overall, the hype which was created with announcement of SCB bonus share was lost within 30 minutes of the trading session. The index kept on slipping with no more announcement from other banks.

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