NEPSE FALLS BY DOUBLE DIGIT

Sharesansar, 17th March:

The only secondary market of Nepal witnessed yet another murky start as the benchmark index plunged by 14.54 points. With the downfall, the market now has come to settle near two months low. The local bourse today closed at 768.54 level.

With the fear of further plunge in the index, the investors are now rushing to offload shares in the market which has resulted in immense selling pressure in recent days.

Further, the nearing of third quarter end has put pressure on the traders and investors to liquidate their position so as to meet the debt obligation towards financial institutions by the quarter end.

Attributed by such factor, all the sub-indices experienced downfall today. Insurance suffered the highest loss today as it tumbled by 63.01 points followed by Hotels and Hydro with 48.86 and 33.68 points respectively.

Similarly, Banking also plummeted by double digit figure, it dropped by 16.4 points. Likewise, Development declined by 5.93 points and Finance decreased by 5.02 points. As for Others, it skid by 2.35 points.

 Altogether there were trade of 124 scrips, among which 15 scrips gained, 6 scrips remained intact and 103 scrips suffered loss.

The best performer among the traded scrips was Hamro Bikas Bank Ltd. (HAMRO), closed at Rs 178, with a gain of Rs 16 or 9.88 percent. Whereas, Tinau Development Bank Limited (TNBL), closed at Rs 166, was the worst performer with loss of Rs 18 or 9.78 percent.

The company with the highest turnover in today’s session was Nepal Life Insurance Co. Ltd. (NLIC), closed at Rs 4600, with turnover of Rs 31,207,296, totaling 6,751 units which were traded through 26 transactions.

 The Broker with the highest transaction of NLIC was Broker No 28 (Shree Krishna Securities Limited) with 68.17 percent standalone dealing, totaling 9,200 units worth Rs 42,550,000 via 2 matching transactions.

The market turnover today stood at Rs 217,295,633, with total number of shares traded at 537,725 units which were traded through 1,854 transactions. The market capitalization at the end of the day stood at Rs 782,855.60 Millions.