NEPSE DECLINES AS MORE INVESTORS LIQUIDATE THEIR POSITION 

Sharesansar, 10th December:

The market today witnessed 4.32 point decline in its level as more investors opted to capitalize their profit observed from the prior week’s hefty rally. Following the drop, the market came to settle below the 700 mark, at 699.84 levels.

Seeing the market movement of prior week, most investors had expected of the bull rally in this week also but looking into the past two day’s trades, the market observed more of the steady movement. So, the investors today took precaution to book their profit before witnessing a heavy correction in the market.

As most of the insurance companies are currently overpriced, the market today also witnessed heavy profit booking in this sector. Insurance today also dropped by double digit totaling 16.05 points. Similarly, Others and Hydro followed with the decline of 3.53 and 7.48 points.

Likewise, Banking sector which had witnessed a heavy surge yesterday today made correction of 4.64 points alongside it, Hotels and Development also decreased by 2.87 and 4.76 points respectively.

Meanwhile, Finance by the end of the day increased by 1.28 points whereas Manufacturing remained intact at 934.55 levels.

Altogether there were trade of 122 scrips, among which 46 scrips gained,  12 scrips remained intact and 64 scrips suffered loss.

The best performer among the traded scrips was Shree Investment Finance Co. Ltd (SIFC), closed at Rs 330, with a gain of Rs 35 or 11.86 percent. Whereas the worst performer was Prime Life Insurance Company Limited (PLIC), closed at Rs 568, with loss of Rs 62 or 9.84 percent.

The scrips with the highest turnover in today’s trade was Nepal Investment Bank Ltd. (NIBL), closed at Rs 951, with trading of 39,097 units worth Rs 37,135,796 via 176 transactions.

The Brokers with the highest transaction of NIBL was Broker no 36 (Secured Securities Pvt. Limited) with standalone dealing of 11.57 percent,  tallying 9,047 units worth Rs 8,592,517 via 37 transactions.

The total turnover of the market today decreased to Rs 309,954,679 which was carried out through 2,873 transactions totaling 1,054,488 units. The market capitalization at the end stood at Rs 710,221.83  Millions.