NEPSE DIPS 2.42 POINTS ON PROFT-BOOKING

Sharesansar, 24th July:

The Nepse posted 2.42 points or 0.22 per cent down to 1079.09 level as banking, hydro and insurance scrips dipped.

Series of profit taking was seen in recent gainers of banking and insurance sectors which dropped the sub-indices by 1.96 points and 21.91 points while the shaky confidence of buyers towards Chilime Hydropower Co. Ltd’s scrip played pivotal role in Hydro sector decline.

“Amid the current crisis of recall of Chilime Hydro power co. Ltd Managing Director (MD) Kulman Ghising , the curtail of MD’s representation on subsidiary companies by the CHCL’s board on Tuesday has dampened the sentiment of buyers towards CHCL,” says one of the investors.

He further adds,”Chilime is great company to invest, however, the current unfolding events arouse questions about the smooth progress of Chilime model vision by Mr. Ghising in future days to come. So, many are taking cautious approach at this level.”

Driven by such sentiment, huge selling pressure was observed in CHCL leading to Rs 50 loss in company’s price and also negative impact in remaining listed hydro companies’ price. Attributed by such scenario, the hydro sector today made a hefty downfall of 48.91 points.

Chilime, on the other hand, made the highest turnover amongst the traded shares today. Altogether, 24,293 units share of CHCL were traded through 163 transactions worth Rs 64.53 million.

The broker with the highest standalone dealing of the CHCL was Broker No 16 (Primo Securities Pvt. Limited) with 10.48 percent totaling 5,090 share units amounting Rs 13,530,557 via 13 transactions, which include two matching transactions tallying 1,639 units worth Rs 4,353,745.

Among the rest of sub-groups, Hotels added 0.94 point, Development increased by 6.63 point, Finance advanced by 0.58 point while, Others remained intact at 754.24 level.

All in all, the scrips of 154 companies were traded, out of which 86 scrips gained, 10 remained intact and 58 scrips lost.

The best performer for the day was, Premier Finance Co. Ltd (PFCL), closed at Rs 166, with Rs 15 or 9.93 percent gain. Whereas, Lumbini Finance Ltd. (LFLC), closed at Rs 323, was the worst performer today with Rs 35 or 9.78 percent loss.

The market turnover today stood at Rs 756,787,725, with total number of shares traded at 1,774,987 units which were traded through 4,689 transactions. The market capitalization at the end of the day stood at Rs 1,101,905.80 Millions.