BANKING, HYDRO AND OTHERS SECTORS’ SCRIPS CAUSE FURTHER DOWNFALL IN NEPSE

Sharesansar, 28th November:

After witnessing the additional downfall in the price of the Banking, Hydro and Others sectors’ scrips, the market today diluted further in the south. By the end of today’s session, stock index came to suffer a loss of 3.23 points to close at 643.95 levels.

With the market observing less aggressive upward movement and more of correction behaviour, the investors those who had benefited from the prior surge are now liquidating their position, attributing to recent downfalls in the market.

As the shares of Banking, Hydro and Others had made a spectacular run in the past, the investors who had bought these sectors’ shares in the lower levels are currently dumping it. All these three sectors rose by more than 60 points within the two trading days after the result of the election.

However, in recent days the profit booking has narrowed these sectors’ height. Today also all these three sectors dropped by 4.97, 6.86 and 19.97 points respectively. Along with them Finance also declined by 1 point.

Contrary to above sectors which have witnessed correction after the overall market rally, Insurance sector is still maintaining its bull run. The sector today further added 52.91 points in its tally, bringing its total gain after election up to 331.57 points.

Following Insurance, Hotels also climbed up by 42.1 points, Development advance by 2.32 points and Trading gained 1.18 points.

Altogether there were trade of 108 scrips, among which 55 scrips gained,  12 scrips remained intact and 41 scrips suffered loss.

The best performer among the traded scrips was Life Insurance Co. Nepal  (LICN), closed at Rs 2076, with a gain of Rs 188 or 9.96 percent whereas the worst performer was  H & B Development Bank Ltd. (HBDL), closed at Rs 54, with loss of Rs 6 or 10percent.

Among the shares trading above par, Sagarmatha Insurance Co. Ltd (SIC), closed at Rs 863, was the worst performer with a loss of Rs 37 or 4.11 percent.

The scrip with the highest turnover was National LifeInsu. Co. Ltd. (NLICL), closed at Rs 1625, with trade of 19,809 units share worth Rs 30,788,638 via 30 transactions only.

The  Broker with the highest transaction of NLICL was Broker no 35 (Sri Kohinoor Investment and Securities Pvt. Ltd) with 65.45% standalone dealing of the NLICL, tallying 26,000 units worth Rs 40,302,000 via 6 matching transactions.

Meanwhile, the total turnover of the market today decreased to Rs 264,096,881 which was carried out through 2,376 transactions totaling 720,156 units. The market capitalization at the end stood at Rs 653,313.30 Millions.