NEPSE DIPS 9.66 POINTS

Sharesansar, 3rd August:

The high selling pressure in banking and financial institution, hydro and insurance sectors’ shares dragged the market nearly by double digit figure today. The Nepse index by the end of today’s session came to suffer a loss of 9.66 points to close at 1056.43 level.

Hydro sub-group led the downfall with a massive loss of 87.26 points.

“As much talked about power trade agreement (PTA) between Nepal and India and power development agreement (PDA) with India’s GMR  are unlikely to be signed during Indian Prime Minister Narendra Modi’s two day visit, the investors’ sentiment towards hydro sector dropped today,” says one of the investors.

 “In addition, the interruption in five hydropower projects in Sindhupalchowk district because of the massive landslide has also made investors cautious towards hydro sector,” he further adds, “Previously, investors thought of hydro sector as save investment opportunity with less risk, but current outcome has made investors realize the vulnerability of this sector towards natural disasters.”

Chilime Hydro power C. (CHCL), Butwal Power Co. Ltd.(BPCL), Sanima Mai Hydropower Ltd. (SHPC) and National Hydro Power Co. (NHPC) dropped by Rs 50, Rs 64, Rs 28 and Rs 8 respectively.

Similarly, big cap banking companies’ like Standard Chartered Bank Ltd. (SCB) and Everest Bank Ltd (EBL) led the downfall in banking sector with Rs 68 and 23 losses respectively. Banking sector dropped 9.03 points.

Likewise, Development and Finance, two of the remaining banking and financial institutions related sub-indices, decreased by 10.67 points and 0.3 point respectively.

Insurance and Hotels were other subgroups to follow in footstep of above sectors with 37.88 points and 12.53 points losses respectively.

While, Manufacturing and Others were the only sectors to close in green terrain with 0.7 point and 5.87 points gain respectively.

All in all, the scrips of only 154 companies were traded, out of which 36 scrips gained, 16 remained intact and 102 scrips lost.

The best performer for the day was, Karnali Development Bank Limited (KRBL), closed at Rs 286, with gain of Rs 26 or 10 percent. Whereas, First Microfinance Development Bank Ltd. (FMDBL), closed at Rs 852, was the worst performer today with Rs 94 or 9.94 percent loss.

Nepal Bank Limited, closed at Rs 513, had the highest turnover among the traded shares today. Altogether, 73,184 units share of NBL were traded through 130 transactions worth Rs 38,005,438.

The broker with the highest standalone dealing of the NBL was Broker No 56 (Sri Hari Securities Pvt. Ltd.) with 19.08 percent totaling 28,095 share units amounting Rs 14,507,560 via 37 transactions, which include four matching transactions tallying 3,475 units worth Rs 1,798,675.

The market turnover today stood at Rs 483,880,352, with total number of shares traded at 1,171,402 units which were traded through 3,822 transactions. The market capitalization at the end of the day stood at Rs 1,078,820.29 Millions.