NEPSE GOES RED YET AGAIN

Sharesansar, 6th August:

Following yesterday’s surge, the market has yet again settled on red. The Nepse index today posted a loss of 3.52 points, to close at 1041.22 level.

The downfall in the price of banking and other sectors’ shares, two of the heavyweight sub-groups of Nepse, attributed to bearish trend throughout in today’s session.

Machhachapuchhre Bank Ltd (MBL) and Laxmi Bank Limited (LBL) led the downfall in banking sector with losses of Rs 23 and Rs 20 respectively. Along with mentioned scrips, other 19 banking scrips settled on red zone leading to 6.05 points drop in Banking sector.

Similarly, the fall in Nepal Doorsanchar Company Limited (NTC) by Rs 3 caused 3.53 decline in Others sector.

Likewise, Finance, Hydro and Hotels also settled on red with losses of 6.51 points, 12.45 points and 0.18 points respectively.

While, Insurance and Development made healthy rally of 12.85 points and 7.58 points respectively, followed by Manufacturing with 0.7 point gain.

All in all, the scrips of 148 companies were traded, out of which 57 scrips gained, five remained intact and 86 scrips lost.

Swabalamwan Bikash Bank (SWBBL), which posted net profit of Rs 182.7 million i.e. growth of 188 percent in the fourth quarter, was the best performer today. The scrip made a circuit level gain of 10 percent i.e. Rs 170, to close at Rs 1,870.

Whereas, Nepal Insurance Co.Ltd. (NICL), closed at Rs 541, was the worst performer today with Rs 59 or 9.83 percent loss.

Siddhartha Bank Limited (SBL), which also posted its fourth quarter report today with net profit growth of 68 percent to Rs 791.5 million, had the highest turnover among the traded shares. Altogether, 46,306 units share of SBL were traded through 175 transactions worth Rs 40,362,840.

The broker with the highest standalone dealing of the SBL was Broker No 50 (Crystal Kanchanjungha Securities Pvt. Ltd.) with 6.74 percent totaling 6,273 share units amounting Rs 5,443,401 via 19 transactions, which includes one matching transaction of 200 units worth Rs 174,200.

The market turnover today stood at Rs 503,795,153, with total number of shares traded at 926,540 units which were traded through 3,868 transactions. The market capitalization at the end of the day stood at Rs 1,063,107.20 Millions.