NEPSE loses 6.65 points as short-term investors overpower; Microfinance companies among top gainers

The benchmark index at Nepal Stock Exchange (NEPSE) has gone down by 6.65 points (0.49%) today. The market opened at 1,343.80 and fell down to 1,335.80 at the end of the first trading hour. Sudden influx of buyers seeking to capitalize on the reduced prices increased the index slightly, but it eventually closed at 1,337.46 by losing 6.65 points. The market has been in an unstable condition for the past week as traders seeking to earn returns in short period have increased significantly. The total turnover stood at only Rs 30.48 crore, around Rs 4 crore less than yesterday. Today, 116,419 units of Prabhu Bank’s promoter shares (PRVUPO) and 87,307 units of Bank of Kathmandu Lumbini Limited (BOKL) were traded the most today and had the highest turnovers. Mahalaxmi Bikas Bank Limited (MLBL) was also among the companies with highest turnover today. RSDC Laghubitta Bittiya Sanstha Limited (RSDC), First Microfinance Development Bank Limited (FMDBL) and National Microfinance Bittiya Sanstha Limited (NMFBS) were the top gainers today. Karnali Development Bank Limited (KRBL) also gained 4% today, influenced by its news of 225% right share. Today, the sensitive index slipped by 1.55 points, whereas float index dropped by 0.56 points. Only Hotels and other sectors ended up in green today.