PROFIT BOOKING CONTINUES; NEPSE DROPS BY 3.27 POINTS

Sharesansar, 18th June:

Nepse index today decreased by 3.27 points to 932.33 level as consistent profit-booking continued across counters for second consecutive day.

Though the demand in insurance scrips along with some other scrips in the beginning of today’s session had kept the benchmark index float above green, the latter profit-taking in insurance and banking scrips sink the local bourse below red terrain.

“These two days-referring to yesterday and today- have been all about profit-taking by the traders,” says one of the stock brokers, “they are simply capitalizing gain from recent incline.”

Nearly half of the traded scrips settled on the red terrain today. All in all, the scrips of 145 companies were traded, out of which only 60 scrips gained, 20 remained intact and 65 scrips lost.

Besides, three out of the eight sectoral indices closed in red zone with Banking and Finance leading the downfall.

Banking sector today suffered a massive loss of 9.31 points and, Development and Finance fell by 0.66 points and 4.05 points respectively.

While, Others, one of another heavy weighted sub-groups, remained intact at 722.53 level.

As for Insurance, it propelled by 59.89 points, Hotels incremented by 34.1 points and Hydro climbed by 2.49 points.

The best performer for the day was, Neco Insurance Co. (NIL), closed at Rs 513, with Rs 46 or 9.85 percent gain. Whereas, Alliance Insurance Company Limited (AIC), closed at Rs 664, was the worst performer today with Rs 47 or 6.61 percent loss.

In terms of turnover, Nepal Bank Limited (NBL), closed at 357, out run Chilime Hydro Power Co.(CHCL), closed at 2375, by slight margin to top the category. Altogether, 113,415 share units of NBL were traded through 143 transactions worth Rs 40,514,454.

The broker with the highest standalone dealing of the NBL was Broker No 56 (Sri Hari Securities Pvt. Ltd.) with 10.49 percent totaling 23,899 shares trade amounting Rs 8,499,842 via 26 selling transactions.

The market turnover today stood at Rs 477,045,060, with total number of shares traded at 926,463 units which were traded through 3,565 transactions. The market capitalization at the end of the day stood at Rs 950,994.29 Millions.