NEPSE FALLS AS INVESTORS REACT NEGATIVELY TOWARDS CPN-UML DECISION

Sharesansar, 11th Feb:

Owing to the latest political development of CPN- UML's decision not to join the Nepali Congress-led government over a power-sharing issue, the market sentiment got hindered today as stock index tumbled by 6.58 points-the NEPSE index closed at 796.55 levels.

Investors, who were on positive note yesterday, reacted negatively to the CPN-UML decision to stay off the NC government, attributing to lots of panic selling in the market today.

The market, which had observed two circuit breakers yesterday, experienced heavy selling from the beginning to end.  The local bourse, which opened its session above 800 level, came to observe downfall near to 790 level, however, boost in the demand in end session helped sustain the index above 795 level.

Most of the shares offloaded were of Banking and Hydro sectors as more than 70 percent trading were of these sectors’ shares only in today’s transaction. Among the 27 banking scrips traded today, only five shares were able to sustain gains while rest plunged in the red zone. Likewise, among five hydro scrips, two suffered loss and the rest remained intact at prior closing level. Both sub-indices experienced loss of  7.59 and 10.51 points respectively.

In addition to above sectors downfall, the  plummet in Others sector, which is one the influential sector in NEPSE movement, created further downward pressure in the market. Others today decreased by 8.22 points.

Similarly, Hotels, Development and Insurance were other remaining sub-indices to experience descend as Hotels tumbled by 18.41 points, Development diminished by 5.51 points and Insurance dropped by 0.49 point.

Meanwhile, Finance was the only sector to sustain in green terrain with an incline of 0.96 point.

Altogether there were trade of 119 scrips, among which 40 scrips gained, 13 scrips remained intact and 66 scrips suffered loss.

The best performer among the traded scrips was Pokhara Finance Ltd. (PFL), closed at Rs 187, with a gain of Rs 17 or 10 percent. Whereas, Business Universal Development Bank Ltd..  (BUDBL), closed at Rs 153, was the worst performer with loss of Rs 17 or 10 percent.
 
The scrip with the highest turnover in today’s market was Arun Valley Hydropower Development Company Limited (AHPC), closed at Rs 682, with Rs 32,899,816, totaling 49,224 units which were traded through 162 transactions.

The Broker with the highest transaction of AHPC was Broker No 55 (Bhrikuti Stock Broking Co. Pvt. Ltd.) with 18.99 percent standalone dealing, totaling 18,646 units worth Rs 12,496,068 via 68 transactions; which include three matching transactions tallying  1,500 units worth Rs 1,000,000.

The market turnover today stood at Rs 322,614,054 with total number of shares traded at 778,381 units which were traded through 2,721 transactions. The market capitalization at the end of the day stood at Rs 810,966.89 Millions.