NEPSE MAKES CORRECTION

ShareSansar, 22nd October
     
Halting its bull rally, the secondary market today made correction of 6.13 points to close at 581.79 levels.Prior to today’s downward movement, the stock index had been enjoying a bullish streak since 24th September.

From the date of its bull run, the stock index came to add 49.61 points or 9.21 percent within the time span of 10 trading days. In the course of its progress, the benchmark index came to breach its prior threshold and sustained high of 587.92 levels which is near to four years high.

Citing such a long bull run and yesterday’ s U turn movement in the market, the investors today converge to liquidate their position from the beginning of the session attributing to decline in stock index from start to end.

Most of the investors today were found liquidating their Banking and Hydro sectors’ scrips along with shares of Nepal Doorsanchar Company Limited (NTC). By the end of the day, Banking came to plunge by 9.05 points, Hydro plummeted by 14.15 points and Others dropped by 11.74 points. Likewise, Development also declined by 0.46 points.

While, Insurance came out on top as it gained 11.66 points alongside 8.24 points surge of Hotels, 2.82 points growth of Manufacturing and 1.41 points leap of Finance.

All in all, 98 scrips were traded, out of which 31 scrips gained, 13 remained intact and 54 scrips lost.

The best performer in today’s session was Surya Life Insurance Company Limited (SLICL), closed at Rs 260, with a gain of Rs 20 or 8.33 percent whereas Shikhar Insurance Co. Ltd. (SICL) , closed at Rs 481, was the worst performer for the day with a loss of Rs 44 or 8.38 percent.

The scrip with the highest turnover in today’s market was of Nabil Bank Ltd. (NABIL), closed at Rs 2150, with a turnover worth Rs 15,660,107 which was carried out through 33 transactions totaling 7,336 units.

The broker with the highest standalone dealing of the NABIL was Broker No 6 (Agrawal Securities Pvt. Limited) with 63.74%; amounting Rs 19,965,770 via 15 transactions totaling 9,449 units in which 4,153 units were carried out through 5 matching transactions tallying Rs 8,742,351.

In the overall market, 380,711 unit shares were traded by 2,043 transactions worth Rs 122,385,640. The market capitalization at the end of the day stood at Rs 590,164.40 million.