NEPSE CONTINUES TO DOWNFALL FOR FIFTH STRAIGHT TRADING DAY

Sharesansar, 12th March:

It has been miserable week for the investors so far as the only stock market of Nepal continues to drop for fifth consecutive trading days. Beginning its trading from yesterday’s closing, the benchmark index failed to coup with the selling pressure from start attributing to bearish transition throughout the day.

The secondary market today tumbled by 7.48 points to settle at 780.51 level which is the one month lowest.

The freefall in the market has been mainly attributed by the profit booking mostly in banking scrips followed by hydro and others scrips. As the market has experienced more than two percent decline within past few days, the investors are now rushing to offload their holding in fear of further plunge in share price.

Attributed by such factor, the banking scrips’ price level plummeted further down today, dragging the sub-index down by 8.08 points. In addition, the double digit plunge of 10.57 points in others sector created further downward pressure in today’s trade.

Similarly, Hotels was another sub-index to suffer double digit loss as it tumbled by 38.86 points. As for  remaining sectors, Development  dropped by 5.95 points, Finance decreased by 4.57 points and Hydro declined by 3.06  points.

While Insurance was the only sector for the day to maintain growth. The sub-index surged by 5.62 points coming to the end of the day.

Altogether there were trade of 117 scrips, among which 20 scrips gained, 16 scrips remained intact and 81 scrips suffered loss.

The best performer among the traded scrips was Public Development Bank Limited (PDB), closed at Rs 107, with a gain of Rs 4 or 3.88 percent. Whereas, Grand Bank Limited Promoter share  (GRANDP), closed at Rs 108, was the worst performer with loss of Rs 12 or 10 percent followed by Western Development Bank Limited (WDBL), closed at 186, with loss of Rs 11 or 5.58 percent.

The company with the highest turnover in today’s session was Laxmi Bank Limited (LBL), closed at Rs 560, with turnover of Rs 36,083,310, totaling 63,645 units which were traded through 177 transactions.

 The Broker with the highest transaction of LBL was Broker No 38 (Dipshikha Dhitopatra Karobar Co. Pvt. Ltd.) with 8.15 percent standalone dealing, totaling 10,414 units worth Rs 5,885,759 via 16 transactions.

The market turnover today stood at Rs 233,769,375, with total number of shares traded at 477,002 units which were traded through 2,150 transactions. The market capitalization at the end of the day stood at Rs 795,153.14 Millions.