NEPSE DIVE FOR FOURTH CONSECUTIVE TRADING DAYS

ShareSansar, 27th October
    

The secondary market of Nepal yet again derailed to suffer a loss of 1.83 points in today’s session. With today’s decline, the market index has remained in bearish for the fourth straight trading days.

Following the rally for the consecutive ten trading days, the NEPSE index has been in correction path. From 22nd Oct to till date, the market index has come to decline by more than 10 points.

As the market made a steep incline of more than 40 points within such a short span of time, the investors who had entered the market below the 530 levels seems to be liquidating their position to book their profit, leading to recent shifts in the market.

In spite of such transition, the investors’ sentiment towards the market is still on the upside as the market turnover continues to gallop over the Rs 150 million mark, suggesting healthy participation the capital market of Nepal.

The turnover in the NEPSE today stood at Rs 161,777,964. Altogether, 377,387 units of shares were traded through 1,704 transactions.

Meanwhile, the performance of almost all of the sub-indices deteriorated today, as only Manufacturing and Finance prevailed to advance among the eight sectors. Both the sub-indices came to add 10.03 and 0.43 points respectively.

Among the decliners, Hydro continued to tumble by double digit, as it plunged by 26.26 points today. Alongside Hydro, Insurance, Hotels and Other followed with 6.56, 6.88 and 5.88 points descend. While, Banking and Development by the end of the day came to narrow its fall to 0.59 and 0.14 points respectively.

All in all, 93 scrips were traded, out of which 26 scrips gained, 19 remained intact and 48 scrips lost.

The best performer among the traded scrips was of Bottlers Nepal (Terai) Ltd. (BNT), closed at 1618, with a gain of Rs 147 or 9.99 percent. Whereas, the news of ongoing discussion between Sunrise Bank Limited (SRBL) and  H & B Development Bank Ltd (HBDL) for the merger process attributed into a negative reaction towards the SRBL shares and positive towards HBDL shares..

The price level of SRBL, closed at Rs 25, plunged by Rs 15 or 6.25 percent today, making the scrip worst performer of the day. While, the price level of HBDL, closed at Rs 53, inclined by Rs 4 or 8.16 percent, making the scrip amongst the top five gainers in today’s session