NEARING QUARTER END DRAGS NEPSE
Sharesansar, 31st March:
With the nearing of the quarter end, the investors are liquidating their scrips in order to pay loan interest to the Banking and Financial Institutions. The increasing selling pressure in the scrips are mostly observed in the secondary market of Nepal near to the quarter ends; as most of the short term investors channel their fund through margin lending, the obligation to pay the interest on time mainly forces such investors to book their position.
This scenario has been one of the influential factors in the current market down fall; the market today also plunged by 7.32 point to close at 511.45 levels. Like most of the trading days of previous week, the market index today also traded below the opening level for entire session.
Altogether there were trades of seven sectors, among which Others sector was the only gainer with 5.88 points following the jump in the level of Nepal Doorsanchar Company Limited (NTC) by Rs 5. Whereas, Hydro plummeted by the most points totaling 17.56 points; the fall was mainly complemented by the drop in the level of Arun Valley Hydropower Development Company Limited (AHPC) and Chilime Hydro power Co. (CHCL) by Rs 11 and Rs 27 respectively.
Similarly, the decline in all the traded scrips under banking today pushed the sector further south by 12.42 points. The shares of Nabil Bank Ltd. (NABIL), Standard Chartered Bank Ltd. (SCB), Everest Bank Ltd (EBL), Nepal SBI Bank Limited (SBI) and Himalayan Bank Ltd. (HBL) suffered the loss of more than Rs 20. Likewise, Finance and Development, both tumbled by 1.34 and 0.42 points respectively.
While, the decrease in the value of Nepal Life Insurance Co. Ltd. (NLIC) dragged the Insurance sector further down by 4.54 points. As for Hotels, it also derailed by 4.68 points following the descent in Soaltee Hotel Ltd. (SHL) and Taragaon Regency Hotel (TRH).
Overall there were trades of 77 scrips among which only 9 scrips increased 6 remained intact and 62 scrips decreased. The highest gainer for the day was, Siddhartha Finance Limited (SFL), closed at Rs 140, with Rs 8 or 6.06% gain. Whereas the highest loser of the day was, Gaurishankar Development Bank Ltd. (GSDBL), closed at Rs 72, with Rs 7 or 8.86% loss. Among the ordinary shares trading above par, City Development Bank Limited (CDBL), closed at Rs 155, was the highest loser with Rs 11 or 6.63%.
In case of the highest shares traded, Civil Bank Ltd (CBL), closed at Rs 156, topped with 43,059 units. In case of turnover, Nepal Bangladesh Bank Ltd. (NBB), closed at Rs 311, topped with 32,643 units worth Rs 10,326,244 via 75 transactions.; in which Broker no 34 (Vision Securities Pvt. Limited) was the most active Broker with 22.59% stand alone dealing of NBB, tallying 7,375 units worth Rs 2,332,325 via 15 buying transactions.
The total turnover today was 91,018,412 which is comparatively Rs 13,424,238 or 17.30% higher than prior trading session. Overall 300,504 units of shares were traded via 1,418 transactions with the market capitalization of Rs 496,576.33 Millions.
TOP FIVE BROKERS FOR THE DAY: http://www.sharesansar.com/listtopbrokers.php
