NEPSE DIPS BY DOUBLE DIGIT ON PROFIT BOOKING

Sharesansar, 30th July:

The benchmark Nepse on Wednesday also pared early gains to end about 10.38 points lower weighed down by losses in banking and financial institutions’ shares, leading back to back bearish session. Following loss, the market settled at 1062.44 level.

“The market today witnessed high selling pressure as the pending sells order from the suspended brokers flooded in the market today,” says one of the traders.

He further adds, “The hint of selling pressure from initial period triggered more offload of shares from traders and investors in later hours so as to avoid decline in their recent gains.”

Most of the profit-taking was observed in banking scrips as 23 scrips of 28 traded banking scrips suffered loss today. Banking sector declined by massive 15.43 points.

Similarly, Development also suffered loss of 4.89 points alongside Insurance 66.34 points downfall and Manufacturing 14.01 points descend.

While, Hotels added 69.62 points followed by Finance and Hydro with gain of 6.28 points and 0.48 point respectively. As for Others , it remained intact at 746.02 level.

All in all, the scrips of only 156 companies were traded, out of which 51 scrips gained, 15 remained intact and 90 scrips lost.

The best performers for the day were, Corporate Development Bank Ltd. (CORBL), closed at Rs 217, and Lumbini Finance Ltd. (LFLC), closed at Rs 319, with 10 percent gain i.e. Rs 17 and Rs 29 respectively. Whereas, United Finance Ltd (UFL), closed at Rs 365, was the worst performer today with Rs 30 or 7.59 percent loss.

Chilime Hydro power Co. had the highest turnover among the traded shares today. Altogether, 18,898 units share of CHCL were traded through 161 transactions worth Rs 49,212,482.

The broker with the highest standalone dealing of the CHCL was Broker No 49 (Online Securities Pvt.Ltd) with 9.55 percent totaling 3,616 share units amounting Rs 9,404,172 via 14 transactions, which includes three matching transactions tallying 1,306 units worth Rs 3,393,004.

The market turnover today stood at Rs 573,234,964, with total number of shares traded at 1,352,032  units which were traded through 4,852 transactions. The market capitalization at the end of the day stood at Rs 1,084,962.89 Millions .