Market under influence of short term traders; Increase in selling pressure drags down market by 14.24 points with turnover of Rs 76.47 crore

After increment of 34.72 points yesterday, the benchmark index at Nepal Stock Exchange Limited (NEPSE) has dropped by 14.24 points or 0.47% to close at 1623.13 points today. Nepse Index opened at 1637.46 points and went up to 1650.97 points today during the first trading hour of the day, and after that it was seen fluctuating. The index declined during the last trading hour, shedding 14.24 points overall. 117,397 units shares of Sunrise Bank Limited (SRBL) and 63,739 unit shares of Civil Bank Limited were traded the most today. The best performers for the day were RSDC Laghubitta Bittiya Sanstha Limited (RSDC) and World Merchant banking and Finance Limited (WMBF), that hit 10% positive circuit break. Whereas, Vijaya Laghubitta Bittiya Sanstha Limited (VLBS) and Sagarmatha Insurance Company Limited (SIC) were the biggest loser today. The total turnover of the day stood above Rs 76.47 crore in which more than 12.79 lakh units shares were traded through 8,038 transactions. Sensitive and float index went down by 2.88 and 1.27 points respectively. Except Manufacturing & Production, all the sub-indices landed in red zone today.  Insurance sub-group witnessed the biggest drop of 115.78 points.