NEPSE SNAP 7-DAY RALLY ON PROFIT BOOKING

Sharesansar, 17th June:

The Nepse index snapped a seven-day winning streak after hitting five and eight months high on Monday as traders booked profits in recent outperformers.

The market index fell 3.36 points to 935.49 level today.

Amid current upbeat performance, the traders opted for profit-taking in banking scrips following the sector’s high gain in last seven trading days.

“Most of the banking shares in the last seven 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 mid way of today’s session as there was demand in the listed banking shares amid sluggish supply, which had uplifted the market to green terrain after initial slump.

However, the profit-taking by traders at the end again tilted the demand to supply ratio.

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

Banking sub-group today suffered a loss of 6.97 points followed by Development and Hydro with 1.8 points and 1.85 points decline respectively. Similarly, Hotels also settled in red zone with massive 46.86 points decrease.

While, Insurance lead the sub-groups with gain of 11.01 points followed by Others, Finance and Manufacturing with increment of 5.87 points, 4.64 points and 4 points respectively.

All in all, the scrips of 137 companies were traded, out of which 65 scrips gained, 11 remained intact and 61 scrips lost.

The best performer for the day was, Neco Insurance Co. (NILI), closed at Rs 467, with Rs 42 or 9.88 percent gain. Whereas, Public Development Bank Limited (PDB), closed at Rs 132, was the worst performer today with Rs 10 or 7.04 percent loss.

As for the highest turnover, Standard Chartered Bank Ltd.(CHCL), which closed at 2480, continued to rule the day as the scrip today also had the highest turnover. Altogether, 20,095 share units were traded through 142 transactions worth Rs 49,801,513.

The broker with the highest standalone dealing of the SCB was Broker No 17 (ABC Securities Pvt. Limited) with 12.25 percent totaling 4,907 shares trade amounting Rs 12,208,720 via 30 transactions, which include four matching transactions tallying 500 share units worth Rs 1,247,600.


The market turnover today stood at Rs 620,807,008, with total number of shares traded at 1,223,300 units which were traded through 4,655 transactions. The market capitalization at the end of the day stood at Rs 954,330.76 Millions.