NEPSE SNAP 14-DAY RALLY ON PROFIT TAKING

Sharesansar, 14th July:

The Nepse index snapped a 14-day winning streak after hitting six years high on prior week as traders booked profits in recent outperformers.

The market index fell 8.04 points to 1028.84 level today.

Amid current upbeat performance, the traders opted for profit-taking in insurance, hydro and banking and financial institutions scrips following the sectors’ high gain in last 14 trading days.

“Most of hydro, insurance and banking and financial institutions shares in the last 14 trading days have witnessed a very sharp incline. So, it was evident for the short term investors’ to book their profit,” says Mr. Jeevan Ghimire who is one of the traders in market.

The situation was different in the first hour as there was demand in the listed banking and financial institutions shares amid sluggish supply, which had uplifted the market to green terrain for first thirty minutes.

However, the profit-taking by traders in latter hours tilted the demand to supply ratio.

By the end of the day, most of the banking and financial institutions’ scrips came to settle on the red zone following such scenario.

Banking sub-group today suffered a loss of 7.99 points followed by Development and Finance with drop of 5.38 points and 4.02 points respectively.

As for hydro and Insurance, both suffered a double digit loss of 35.29 points and 47.54 points respectively.

Similarly, Hotels also settled in red zone with 3.8 points decrease alongside 1.18 points decline of Others.  

While, Manufacturing was the only sub-index to settle on green as the sector added 15 points to its tally.

All in all, the scrips of 143 companies were traded, out of which 43 scrips gained, 14 remained intact and 86 scrips lost.

The best performer for the day was, Premier Insurance co. Ltd. (PIC), closed at Rs 738, with Rs 67 or 9.99 percent gain. Whereas, Hama Merchant & Finance Ltd. (HAMA), closed at Rs 147, was the worst performer today with Rs 15 or 9.26 percent loss.

As for the highest turnover, Chilime Hydro power Co. CHCL), which closed at 2655, had the highest turnover. Altogether, 23,217 share units were traded through 112 transactions worth Rs 61,512,012.

The broker with the highest standalone dealing of the CHCL was Broker No 26 (Asian Securities Pvt. Limited) with 20.51 percent totaling 9,543 shares trade amounting Rs 25,241,053 via eight transactions.


The market turnover today stood at Rs 487,765,011, with total number of shares traded at 1,332,639 units which were traded through 3,243 transactions. The market capitalization at the end of the day stood at Rs 1,049,753.07 Millions.