NEPSE WITNESS CORRECTION

Sharesansar, 3rd March:

Driven by the profit booking sentiment, the local bourse today experienced a double digit downfall   of 14.66 points. The market today closed 811.04 level.

Persistent profit taking in the banking scrips drove the market sentiment in downward slope from initial hour. Further, the profit capitalization in others ,hydro, insurance sectors’ shares lent additional helping hand today’s fall.

With the continuous selling pressure, the market today traded in red for whole day and suffered double digit plunge. Last time, the local bourse suffered double digit blow was back in the month of January.

Hydro suffered the highest loss among the sub-indices, as it dropped by 72.71 points followed by insurance with 20.84 points decline and Others with 15.27 points plunge.

Banking was another sub-index to suffer double digit tumble of 15.60 points. Similarly, Development and Finance also suffered loss of 10.1 and 4.55 points respectively.  As for Hotels, it was the only sector to settle on green-it increased by 47.05 points.

Altogether there were trade of 115 scrips, among which 13 scrips gained, 10 scrips remained intact and 92 scrips suffered loss.

The best performer among the traded scrips was Janaki Finance Ltd. (JFL), closed at Rs 555, with a gain of Rs 14 or 5.69 percent. Whereas, Summit Micro Finance Development Bank Ltd. (SMFDB), closed at Rs 801, was the worst performer with loss of Rs 89 or 10 percent.

The company with the highest turnover in today’s session was National LifeInsu. Co.Ltd.  (NLICL), closed at Rs 2300, with turnover of Rs 47,847,300, totaling 21,170 units which were traded through eleven transactions.

The Broker with the highest transaction of NLICL was Broker No 49 (Online Securities Pvt. Ltd) with 77.38 percent standalone dealing, totaling 32,770 units worth Rs 74,057,920 via ten transactions, which include four matching transactions tallying 12,806 units worth Rs 28,942,000.

The market turnover today stood at Rs 289,144,949, with total number of shares traded at 598,709 units which were traded through 2,355 transactions. The market capitalization at the end of the day stood at Rs 826,119.69 Millions.