NEPSE TUMBLES AS FESTIVE SEASON NEARS

ShareSansar, 22th Sept:
    
Breaking the sideways channel, Nepal Stock Exchange today tumbled by a massive 7.47 points to settle at 541.51 levels. This is the highest fall seen in the market for the past two months. Last time, the market made such a mammoth loss was on 16th July, totaling 8.97 points.

Due to the nearing of the festive season of Dashain, investors anticipate slack in the market at this time of the year as most are found liquidating their position to accumulate funds for the festive occasion. Citing such expectation, most of the investors were found capitalizing their profit today attributing to tremendous selling pressure in the market.

Likewise, the presences of buyers are also thinning out with the nearing of the festive season as the market turnover today just stood at Rs 114,008,016. Altogether, there were only 1,797 transactions totaling 433,154 share units which are lower than the prior day’s figures.

Among the sub-indices, Hydro suffered heavy loss of 31.25 points followed by Insurance with a 24.16 point drop. Similarly, Banking also tumbles by a hefty 9.7 points alongside 8.93 point decline of Manufacturing , 1.4 points fall of Hotels and 0.07 points skid of Development.

Only, Others sector was the gainer with a 1.17 points leap. As for Finance, it remained intact at 265.24 levels.

All in all, 110 scrips were traded, out of which 24 scrips gained, 15 remained intact and 71 scrips lost.

The share with the highest gain in today’s session was, Surya Life Insurance Company Limited (SLICL), closed at Rs 253, with Rs 23 or 10 percent growth. Whereas, Bottlers Nepal (Terai) Ltd.  (BNL), closed at Rs 1263, was the worst performer for the day with a loss of Rs 131 or 9.40 percent.

The scrip with the highest turnover in today’s market was of Chilime Hydro power Co. (CHCL), closed at Rs 1,176. Altogether, 9,719 units of shares were traded through 48 transactions worth Rs 11,457,120.

The broker with the highest standalone dealing of CHCL was Broker No 50 (Crystal Kanchanjungha Securities Pvt. Ltd.) with 24.13 percent; amounting Rs 5,530,246 via 9 selling transactions totaling  4,694 units.