NEPSE PUSH FOR CORRECTION

Sharesansar, 8th December: After witnessing a jaw dropping bullish rally of NEPSE in the prior week, the local bourse today made direction to the south for correction. Coming to the end of the day, the market observed decline of 4.92 points to close at 702.49 levels. Following the five straight days of Bull Run in the prior week, the stock index came to add 63.46 points to its tally, propelling the local bourse over 700 levels. Observing such mammoth leap of more than 9 percent, the investors took the today’s market session as opportunity to book their profit attributing to fall in market index. Most of the investors today capitalize their profit in the insurance scrips as the majority of the insurance’s shares had been in increasing streak without any correction from few weeks back. Insurance sector suffered the highest loss totaling 44.86 points. Likewise, Others dropped by 15.27 points, Banking decreased by 3.33 points and Development declined by 2.93 points. While, Hotels, Hydro and Finance increased by 23.13, 9.02 and 0.84 points respectively. Meanwhile, Others at the end of the day recovered its way back from the south side to remain intact at 783.62 levels. Altogether there were trade of 117 scrips, among which 53 scrips gained, 9 scrips remained intact and 55 scrips suffered loss. The best performer among the traded scrips was Miteri Development Bank Limited (MDB), closed at Rs 166, with a gain of Rs 15 or 9.93 percent. Whereas the worst performer was Prabhu Bikas Bank Limited (PRBBL), closed at Rs 234, with loss of Rs 26 or 10 percent. The scrip with the highest turnover was Nabil Bank Ltd. (NABIL), closed at Rs 2750, with trade of 18,668 units share worth Rs 50,827,744 via 102 transactions. The Broker with the highest transaction of NABIL was Broker no 22 (Siprabi Securities Pvt. Limited) with 10.96% standalone dealing, tallying 4,105 units worth Rs 11,140,074 via 13 transactions which includes 3 matching transactions totaling 1,111 units worth Rs 3,011,256. The total turnover of the market today decreased to Rs 422,056,320 which was carried out through 2,949 transactions totaling 1,125,178 units. The market capitalization at the end stood at Rs 712,748.01 Millions.