NEPSE DIPS 3.25 POINTS ON PROFIT TAKING

Sharesansar, 15th July:

The benchmark Nepse on Tuesday also pared early gains to end about 3.25 points lower weighed down by losses in banking and financial institutions’ shares, leading back to back bearish session.

Driven by the central bank’s flexibility on spread rate and anticipation of pro-market budget, the market had crossed 1000-point mark after a hiatus of six years on prior week. Following which most of the banking sector’s scrips along with development and finance sectors’ shares witnessed a very sound growth.

However, investors and traders-mostly traders- have taken cautious approach in recent days , by profit-taking, after the budget didn’t address about transaction tax and other issues as expected earlier by the market.

In spite of recent downfall in Nepse, the stakeholders are still upbeat about the market as they think that this budget has made strong indication towards developing the capital market than previous budgets.

One of the investors said that the recent declines cannot alone be blamed on the budget not addressing about tax system. If a market goes to increase by 100 points within two weeks time, it is obvious for the local bourse to witness correction because of profit taking, which is what happening in Nepse.

Most of the profit-taking was observed in commercial banks’ shares today as the banking sector dropped by 6.22 points. Similarly, Development and Finance followed with 1.39 points and 0.92 point decline respectively.

Likewise, Others, Hotels and Manufacturing also decreased by 2.35 points, 2.08 points and 15.05 points respectively.

While, Hydro and Insurance gained 18.3 points and 19.01 points respectively.

All in all, the scrips of 142 companies were traded, out of which 57 scrips gained, 12 remained intact and 73 scrips lost.

The best performer for the day was, Pathibhara Bikas Bank Limited (PBSL), closed at Rs 310, with Rs 28 or 9.93 percent gain. Whereas, Country Development Bank Ltd. (CNDBL), closed at Rs 187, was the worst performer today with Rs 20 or 9.66 percent loss.

As for the highest turnover, Chilime Hydro power Co. (CHCL), which closed at 2700, had the highest turnover. Altogether, 43,854 share units were traded through 109 transactions worth Rs 115,609,506.

The broker with the highest standalone dealing of the CHCL was Broker No 49 (Online Securities Pvt. Ltd) with 49.99 percent totaling  44,077 shares trade amounting Rs 115,590,027 via 13 transactions, which include four matching transactions tallying 21,279 units worth Rs 55,780,194.


The market turnover today stood at Rs 611,337,774, with total number of shares traded at 11,935,000 units which were traded through 3,264 transactions. The market capitalization at the end of the day stood at Rs 1,046,436.99 Millions.