NEPSE SNAP 4-DAY RALLY ON PROFIT TAKING

Sharesansar, 22th July:

The Nepse index snapped a 4-day winning streak after hitting 70 months high yesterday as traders booked profits in recent gainers.

The market index fell 5.9 points to 1077.65 level today.

Most of the offload was observed in commercial banks’ scrips as it had witnessed a spectacular surge in prior days after unveil of new monetary policy on last Friday.

Latest gainers like Everest Bank Ltd (EBL), Agricultural Development Bank Ltd (ADBL), Standard Chartered Bank Ltd. (SCB), Laxmi Bank Limited (LBL) and NMB Bank Ltd. (NMB) among others mostly observed series of profit taking which dampened the overall banking sector. Banking subgroup today dropped by 6.47 points.

Similarly, traders also booked their profit in recent microfinance shares as these scrips too had witnessed massive rise following the monetary policy.

Nerude Laghubita Bikas Bank Limited (NLBBL), Nirdhan Utthan Bank Ltd. (NUBL), Naya Nepal Laghubitta Bikas Bank Limited (NNLB), Sahayogi Vikas Bank (SBBLJ) and Sana Kisan Bikas Bank Ltd (SKBBL) were among others to observe high series of liquidation.

Despite the fall in most of the microfinance companies, the investors attraction towards the lower capital base development companies kept the Development sector above green terrain as the sub-index added 5.51 points. Likewise, Manufacturing was another sector to gain 2.33 points.

However, demand for rest of the listed companies was not the same as profit-taking dragged rest of the sub-indices.

Insurance made the highest fall of 30.67 points followed by Hydro with 20.04 points loss. Similarly, Others declined by 8.22 points, Hotels decreased by 5.7 points and Finance dropped 2.39 points.

 All in all, the scrips of 153 companies were traded, out of which 63 scrips gained, 10 remained intact and 80 scrips lost.

The best performers for the day were, Nepal Finance Ltd. (NFS), closed at Rs 121, and Matribhumi Bikas Bank Ltd.  (MTBL), closed at Rs 220, and Innovative Development Bank Ltd.  (INDB), closed at Rs 330,  with 10 percent gain each i.e. Rs 11, Rs 20 and Rs 30 respectively. Whereas, Nilgiri Bikas Bank Limited (NGBL), closed at Rs 280, was the worst performer today with Rs 20 or 6.67 percent loss.

As for the highest turnover, Nepal Bank Limited  ( CHCL), which closed at 498, continued to top the chart. Altogether, 101,019 share units were traded through 154 transactions worth Rs 50,293,178.

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 766,117,763, with total number of shares traded at 1,661,586 units which were traded through 4,885 transactions. The market capitalization at the end of the day stood at Rs 1,100,439.07 Millions.