PROFIT BOOKING CONTINUES; NEPSE DROPS BY 3.61 POINTS

Sharesansar, 5th June:

Nepse index today decreased by 3.61 points to 879.33 level as consistent profit-booking continued across counters for second consecutive day.

From the beginning of today’s session, market observed shares offload of previous days’ high gainers which attributed to bearish movement throughout the day.

“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.”

More than half of the traded scrips settled on the red terrain today. All in all, the scrips of 141 companies were traded, out of which only 47 scrips gained, 16 remained intact and 78 scrips lost.

Besides, seven out of the eight sectoral indices closed in red zone with Insurance and Hydro leading the downfall.

Insurance sector today also suffered a massive loss of 38.78 points and Hydro fell by 21.72 points.

Likewise, Manufacturing also dropped by double digit, tallying 10.38 points. In addition, Banking and Others, two of the heavyweights of Nepal’s secondary market, tumbled by 2.44 points and 2.35 points respectively.

Similarly, Development also decreased by 0.89 point while Finance increased by 3.96 points. As for Hotels, it declined by 7.86  points.

The best performer for the day was, Nagbeli Microfinance Development Bank Ltd. (NBBL), closed at Rs 552, with Rs 40 or 7.81 percent gain. Whereas, United Insurance Co.(Nepal)Ltd. (UIC), closed at Rs 799, was the worst performer today with Rs 71 or 8.16 percent loss.

In terms of turnover, International Leasing And Fin. Co. (ILFC), closed at 225, out run Chilime Hydro Power Co.(CHCL), closed at 2320, by slight margin to top the category. Altogether, 177,390 share units of ILFC were traded through 61 transactions worth Rs 37,300,078.

The broker with the highest standalone dealing of the ILFC was Broker No 49 (Linch Online Securities Pvt.Ltd) with 84.20 percent totaling 302,320 shares trade amounting Rs 62,814,590 via 18 transactions, which include five matching transactions tallying 150,000 share units worth Rs 31,150,000.

The market turnover today stood at Rs 389,105,846, with total number of shares traded at 1,051,496 units which were traded through 2,856 transactions. The market capitalization at the end of the day stood at Rs 896,976.06 Millions.