NEPSE STARTS NEW YEAR WITH MASSIVE DOWNFALL
Sharesansar, 1st January:
Entry of the market into the New Year 2014, turnout to be a disappointing event as stock index suffered massive blow of 16.48 points. With today’s tumble market came to settle at 754.37 levels.
The market has been observing a series of downfall since past three trading days. Following the more than 25 points tumble on 23rd Dec, the market has come to witness a hefty decline in its level compared to Bull Run.
With the market on correction phase, more and more investors are liquidating their position to capitalize on current heights rather than waiting for the rally.
Continuing the prior day’s trend, most of the sub-indices today also slide to settle on the south side. Hydro made the mammoth correction of 53.43 points followed by the Banking and Others with double digit plunge of 17.07 and 16.45 points respectively.
Similarly, Development and Finance also tumbled by 5.98 and 0.78 points respectively. While, Insurance was the top loser among the sub-indices as it dropped by a massive 81.1 points. Correspondingly, NB Insurance Co. Ltd.’s shares (NBIL), which is one of the scrips under insurance sector, trading has been suspended in the market as Beema Samiti has stopped the company to perform all non-life insurance business.
Meanwhile, Hotels was the only sector to produce a rally of 3.01 points.
Altogether there were trade of 102 scrips, among which 22 scrips gained, 7 scrips remained intact and 73 scrips suffered loss.
The best performer among the traded scrips was United Finance Ltd (UFL), closed at Rs 222, with a gain of Rs 20 or 10 percent. Whereas, Gaurishankar Development Bank Ltd. (GSDBL), closed at Rs 105, was the worst performer with loss of Rs 11 or 9.48 percent.
The scrips with the highest turnover in today’s trade was Nepal Bangladesh Bank Ltd. (NBB), closed at Rs 611, with trading of 65,420 units worth Rs 40,027,499 via only 119 transactions.
The Broker with the highest transaction of NBB was Broker no 32 (Premier Securities Company Limited) with 16.34% standalone dealing of the NBB, tallying 21,450 units worth Rs 13,081,400 via 17 transactions which includes 2 matching transactions totaling 4,000 units share worth Rs 2,428,000.
The total market turnover today tallied at Rs 349,910,964, totaling 878,957 units of share which were traded through 2,993 transactions. The market capitalization at the end of the day stood at Rs 766,792.88 Millions.
