NEPSE DIPS FOR CORRECTION

Sharesansar, 31st December:

After reaching the three years high in the previous week, Nepal Stock Exchange today made correction by 6.97 points. The benchmark index from the start of the trade was in bearish trend as the investors booked their profit mainly in the blue chip companies which had huge surge in the previous week. Though the selling pressure dragged the Nepse near to 530 level, the buying pressure at the end hour of trade help to retrace back market index up to today’s closing of 534.13 levels.

Among the sub-indices Hydro sector came down by the 12.22 points as the fall in the price of Chilime Hydro power Co. (CHCL) by Rs 20 mainly contributed in sector’s decline. Likewise, Banking sector plummeted by 10.37 points; mainly the decrease in the Himalayan Bank Ltd. (HBL), Nepal SBI Bank Limited (NSBI), Bank of Kathmandu (BOK), Nepal Investment Bank Ltd. (NIB) along with other 18 scrip pulled the Banking sector down today. As for Development, it dropped by 0.97 points whereas Finance incremented by 1.55 points.

While, Hotels, Insurance and Others descended by 1.32, 0.17 and 7.05 points respectively. The decrease in two of the stocks traded under Hotels i.e Oriental Hotel Ltd. (OHL) And Taragaon Regency Hotel (TRH) by Rs 2 and Rs 1 dragged the sector down. Whereas, the drop in the level of Nepal Life Insurance Co. Ltd. (NLIC) by Rs 25, mainly supported in the Insurance sector’s downfall.

Overall there were 75 scrip traded among which 16 scrip increased, 10 remain intact and 49 scrip decreased. The highest gainer of the day was Nepal Bank Ltd (NBL), closed at Rs 779, with Rs 70 or 9.87% gain. Whereas, Nepal Grand Bank Ltd. (GRAND), closed at Rs 216, was the highest loser with Rs 23 or 9.62%.

In case of highest share traded, Nepal Bangladesh Bank Ltd. (NBBL), closed at Rs 275, topped with 54,273 units. In terms of highest turnover, Bank of Kathmandu (BOK), closed at Rs 710, topped with 28,112 units worth Rs 20,132,297 via 163 transactions; in which Broker No 6 (Agrawal Securities Pvt. Limited) was the most active broker with 33.79% stand alone dealing of BOK, tallying 9,483 units worth Rs 6,802,815 via 37 transactions which includes 6 matching transaction totaling 4,431 units worth Rs 3,187,708. 

Altogether today 314,556 shares were traded via 1,300 transactions worth Rs 111,637,830 and the market capitalization at the end of the day stood at 514,564.37 Millions.