Nepse slides further, turnover also drops
ShareSansar, September 18:
The benchmark index of Nepse continue to slide today and shed 13.53 points to close just below 900 mark at 899.89 levels.
Owing to selling pressure, the only secondary market kept on falling sharply in the first trading hour, and then started to stabilize by and large. Though all the sub-indices ended up in the red terrain today, the market was basically dragged down by the Banking group, which covers around 80 percent of the total m-cap. The Development Bank and Finance also lost 11.02 and 3.74 points respectively.
Other important sub-indices such as the Hydropower and the Insurance lost also lost significantly. The Hotels group 52.81 points while the Hydropower group dropped by 46.36 points. The Others group also lost 2.35 points while the Manufacturing group was not traded at all.
The overall market turnover was also pretty low today and stood just above Rs 31 crore.
This at a time when most of the listed companies, especially BFIs and MFIs have been offering impressive dividends for the last fiscal year suggests that the market is bearish, though quite stable for over the week or so. But the market experts assert that the stock market will rebound and go on a bullish trend soon – may be after the festive season.
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MARKET SUMMARY |
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TOP FIVE BY SHARES TRADED |
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SECTOR WISE TURNOVER |
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SUB-INDICES |
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