NEPSE WITNESS CORRECION

Sharesansar, 16th April:

Following its surge from 795.93 level to 818.58 level by past four trading days, the market index today came to witness correction of 7.12 points. After the decline, the benchmark index came to settle at 811.46 level.

From the start of the today’s session, it was all downhill for the only secondary market of Nepal. Beginning its transition from yesterday’s closing, the market index came to observe steep decline till the end of today’s session.

Attributed by the profit booking sentiment in the market following four days of joyride, the local bourse came to experience downward pressure throughout the day. In addition, most of the investors are in wait and watch mode for the third quarter report which has shrunk the presence of buyers in recent days.

Most of the shares offloaded in today’s session were that of previous gainers i.e. Insurance, Others, Hydro and Banking scrips.

As the insurance sector’s shares have witnessed astounding growth in last few weeks, many were found liquidating their insurance shares today which dragged the insurance sub-index by 30.27 points.

Similarly, Others also experienced the same faith as it dropped by 17.62 points. Alongside them, Hydro also came to tumble by 7.42 points and Banking experienced downfall of 6.22 points.

Likewise, Development and Finance also tagged along with above sectors to drag the market down. Development plunged by 1.73 points and Finance decreased by 0.7 points. As for Hotels, it was the only sub-index to settle on green today; it added 6.97 points to its tally.
 
Altogether there were trade of 119 scrips, among which 42 scrips gained, 14 scrips remained intact and 63 scrips suffered loss.

The best performer among the traded shares was Matribhumi Bikas Bank Limited (MTBL), closed Rs 165, with a gain of Rs 15 or 10 percent. Whereas, Business Universal Development Bank Ltd. (BUDBL), closed at Rs 144, was the worst performer with loss of Rs 12 or 7.69 percent.

Citizens Bank International Limited (CZBIL), which closed at Rs 410, had the highest turnover among the traded scrips today. Overall, 82,609 units of CZBIL were traded through 108 transactions worth Rs 34,378,151.

The Broker with the highest transaction of CZBIL was Broker No 18 (Sagarmatha Securities Pvt. Limited) with 29.94 percent standalone dealing, totaling 49,550 units worth Rs 20,588,300 via 69 transactions, which includes one matching transaction tallying 750 units worth Rs 315,000.

The market turnover today stood at Rs 287,873,448, with total number of shares traded at 562,331 units which were traded through 1,748 transactions. The market capitalization at the end of the day stood at Rs 827,057.52 Millions.