NEPSE FALLS BY DOUBLE DIGIT

Sharesansar, 4th August:

Market witnessed more selling pressure today attributing to double digit decline. The Nepse index plunged by 17.4 points to settle at 1039.03 level.

Previously, the stock index suffered such a loss was back in month of March, where it came to plunge by 14 points, prior to it on the month of December the market came to tumble by 26 points.

In addition to downfall, the turnover of the market also made a massive dive as it tallied at Rs 383 million compared to Rs 483 million of yesterday.

“Yesterday’s downfall triggered more selling pressure today,” says one of the brokers, “Traders who had been holding their positions from 750 level are now in mode of liquidating to avoid further losses.”

Banking and financial institutions, hydro and insurance sectors’ shares were mostly offloaded in today’s session also.

Banking, Development and Finance dropped by 19.82 points, 13.87 points and 8.88 points respectively. Similarly, Hydro suffered loss of 32.16 points and Insurance declined by 66.18 points.

Hotels and Others followed with losses of 31.25 points and 3.52 points respectively.

While, Manufacturing was the only sub-group to settle in green with gain of 14.84 points.

All in all, the scrips of only 146 companies were traded, out of which 23 scrips gained, 8 remained intact and 115 scrips lost.

The best performer for the day was, Ridi Hydropower Development Company Ltd. (RHPC), closed at Rs 595, with gain of Rs 54 or 9.98 percent. Whereas, NIDC Capital Markets Ltd. (NCM), closed at Rs 264, was the worst performer today with Rs 25 or 8.65 percent loss.

Nepal Bank Limited, closed at Rs 500, had the highest turnover among the traded shares today. Altogether, 53,955 units share of NBL were traded through 96 transactions worth Rs 27,285,072.

The broker with the highest standalone dealing of the NBL was Broker No 20 (Sipla Securities Pvt. Limited) with 14.19 percent totaling 15,296 share units amounting Rs 7,727,780 via 13 transactions, which include two matching transactions tallying 4,051 units worth Rs 2,028,398.