NEPSE FALLS AS INVESTORS WARY OVER POLITICAL TUSSLE

Sharesansar, 16th Feb:

The ongoing tussle between the two major parties- Nepal Congress and CPN-UML- over the power sharing issue proved to be a dampening factor in today’s market confidence as the local bourse dropped by 1.78 points to close at 801.32 level.

With the CPM-UML leaders’ stating not to join the government even if Congress opts to offer them home ministry portfolio has made the investors cautions towards market.

Most of the investors were found liquidating their position after the recent stand of UML following which market today experienced high selling pressure from beginning to end.

The majority of banking scrips was offloaded in today’s market as Banking sub-indices tumbled by 5.73 points. Similarly, Finance also experienced a downfall of 1.02 points and Hydro dropped by 1.9 points.

While, Insurance sector witnessed an increase in its scrips demand as the sub-index climbed by 32.93 points. Similarly, Development was the only BFI sub-index to make an incline, of 3.94 points. Likewise, Hotels continued to maintain its rally as it jumped by 4.31 points. As for Others, it remained intact at 793.02 level.

Altogether there were trade of 123 scrips, among which 56 scrips gained, 10 scrips remained intact and 57 scrips suffered loss.

The best performer among the traded scrips was Kalika Microfinance Development Bank Ltd. (KMCDB), closed at Rs 520, with a gain of Rs 47 or 9.94 percent. Whereas, Synergy Finance Ltd (SYFL), closed at Rs 101, was the worst performer with loss of Rs 6 or 5.61 percent.
 
The company with the highest turnover in today’s session was Prime Life Insurance Company Limited (PLIC), closed at Rs 655, with turnover of Rs 14,295,166, totaling 22,079 units which were traded through 81 transactions.

The Broker with the highest transaction of PLIC was Broker No 14 (Nepal Stock House Pvt. Limited) with 15.89 percent standalone dealing, totaling 7,016 units worth Rs 4,542,113 via 22 transactions, which include two matching transactions tallying 287 units worth Rs 186,383.

The market turnover today stood at Rs 171,669,801, with total number of shares traded at 734,756 units which were traded through 2,099 transactions. The market capitalization at the end of the day stood at Rs 816,240.65 Millions.