CORRECTION IN NEPSE

Sharesansar, 25th November:

After observing a rally of more than 9 percent within the last two trading days, the market today made its way for the correction.

The benchmark index that observed 5 percent and 4 percent circuit breaker in the last two trading days, today traded without any suspension. Coming to the end of the day, the local bourse suffered loss of 8.76 points to close at 647.99 levels.

Contrary to prior days’ scenario, much of selling pressure was observed than buying. The investors were found keen to book their profit in those scrips which observed more than 10 percent surge within the last two trading days.

The scrips like NABIL Bank Limited Promoter Share (NABILP), Nepal Credit And Com. Bank (NCCB), Prime Commercial Bank Limited (PCBL), Nepal Bangladesh Bank Ltd. (NBB), Kumari Bank Ltd and Machhachapuchhre Bank Ltd (MBL) were some of those shares.
 
While, Prime Life Insurance Company Limited (PLIC), First Microfinance Development Bank Ltd. (FMDBL), City Development Bank Limited (CDBL), Asian Life Insurance Co. Limited (ALICL), Summit Micro Finance Development Bank Ltd. (SMFDB) along with some others share climb further up.

Likewise, Business Universal Development Bank Ltd.(BUDBL), Tourism Development Bank Ltd. (TDBL), Alliance Insurance Company Limited (AIC), Nirdhan Utthan Bank Ltd. (NUBL) and Excel Development Bank Ltd. (EDBL) were some of the scrips which made higher gain than that of the prior day’s rise.

Altogether there were trade of 101 scrips, among which 54 scrips gained,  13 scrips remained intact and 34 scrips suffered loss.

The best performer among the traded scrips was PLIC, closed at Rs 484, with gain of Rs 44 or 10 percent whereas the worst performer was NABILP, closed at Rs 1490, with loss of Rs 111 or 6.93 percent.

Meanwhile, the total turnover of the market today decreased to Rs 328,158,836 which was carried out through 2,992 transactions totaling 993,628 units. The market capitalization at the end stood at Rs 657,421.02 Millions

The scrip with the highest turnover today also was Nepal Bank Limited (NBL), closed at Rs 257, with 158,053 units Rs 39,165,974 which was carried through 146 transactions.

The  Broker with the highest transaction of NBL was Broker no 44 (Dynamic Money Managers Securities Pvt. Ltd) with 13.47% standalone dealing of the NBL, tallying 42,152 units worth Rs 1,054,719 via 33 transactions which includes 1matching transaction totaling 1000 units worth Rs 239,000.

As for the movement of sub-indices, the two of the heavyweight sub-indices of the NEPSE i.e. Banking and Others today plunged by 12.94 and 16.45 points respectively whereas Hydro registered the highest drop in points with decline of 20.04 and Manufacturing recorded least drop of 2.32 points.

While, Insurance maintained its rally with the incline of 22.9 points followed by Development with a leap of 5.14 points. Similarly, Hotels and Finance also joined gaining club with an advance of 1.51 and 1.21 points respectively.