DESPITE LATE SURGE, NEPSE STILL SUFFERS LOSS; SANIMA MAI TRADING COMMENCED BUT NO SELLERS

Sharesansar, 22nd January:

Mounting selling pressure continued to drag the NEPSE index down today also. By the end of the session, the stock index suffered a loss of 1.56 points to close at 783.91 levels.

With the recent downfall in the banking and insurance scrips, more profit taking was observed in these sectors’ shares today. In addition, the plunge in the price of Nepal Doorsanchar Company Limited (NTC) escalated further downward pressure in today’s market.

However, coming to the end, improvement in the demand of above sectors’ shares helped to some extent in narrowing the today’s loss to just under two points.

In spite of recovery, Banking still managed to sustain the decline of 5.98 points while Insurance bounced back to gain 0.41 point. Similarly, Others sector, contributed by NTC’s fall of Rs 5, also incurred a loss of 5.87 points.

While, Hydro witnessed a remarkable surge of 56.17 points. Further, the sector also witnessed one additional hydro company, i.e. Sanima Mai Hydropower Limited (SHPC) listed and traded under it.

Though the market demand for SHPC was staggering as expected, there were so sellers even above the listing price. The company’s first trade commenced through a transaction of 10 units at the listed price of Rs 324, which is the maximum limit as per three times company’s net worth.  

As for the remaining sub-indices, Finance and Development continued to incline as both added 2.64 and 2.86 points respectively. Similarly, Hotels alongside Trading increased by 18.58 and 3.72 points respectively.

Altogether there were trade of 125 scrips, among which 60 scrips gained, 20 scrips remained intact and 45 scrips suffered loss.

The best performer among the traded scrips was Sewa Bikas Bank Limited (SEWA), closed at Rs 220, with a gain of Rs 20 or 10 percent. Whereas, Prabhu Bikas Bank Ltd. (PRBBL), closed at Rs 246, was the worst performer with loss of Rs 14 or 5.38 percent.

The scrip with the highest turnover in today’s market was Nepal Life Insurance Co. Ltd. (NLIC), closed at Rs 3630, with trade worth Rs 24,558,390 totaling 6,815 units which were traded through 20 transactions.

The market turnover today stood at Rs 350,456,979 with total number of shares traded at 807,040 units which were traded through 2,834 transactions.