Political confrontation weakens investors’ confidence; NEPSE drops by 12.65 points
ShareSansar, January 20:
NEPSE slipped by double digit of 12.65 points or 1.3 percent to close below 970 level at 962.80.
As predicted, the benchmark index fell down by more than 13 points to intraday low of 961.59 level within the initial trading hour after opening at 975.29 level this afternoon.
Dispute among the political parties followed by the clash among them today morning worsen the confidence among the investors led the market dip down in the first hour.
However the increase in buying trend of opportunist investors seeing the lowering price of the scrips with the hope of surge in them in coming days ‘like yesterday’ led the local bourse move back to 977.89 level in the second trading hour.
But highly politically influenced market index of Nepal fell down to 962.80 level till closing.
Among the sub-indices, Banking lowered down by 14.2 points or 1.65 percent to close at 845.07 level whereas Development gained meager 0.22 points. Development was the only sector to land in green today.
HydroPower, Insurance and Others dipped by double digit of 15.73 points, 65.76 points and 12.92 points respectively.
Finance and Hotels dropped by 3.87 points and 0.82 points to close at 513.04 and 2098.01 levels respectively.
Share Price of Bhargav Bikash Bank, Premier Insurance, Butwal Power and Kabeli Bikas Bank surged maximum whereas Infrastructure Development, Janata Bank, Mega Bank and Unique Finance were among the top losers of the day.
Lack of participation of investors in the market led the total turnover amount only Rs 288.98 million. Altogether 622,863 unit shares of 134 scrips were traded today through 2,196 transactions.
