PROFIT CAPITALIZATION DRAGS NEPSE

Sharesansar, 1st August
    
After prolonging the height to 550 levels like of yesterday, the market today also couldn’t breach this resistance level.

Following the profit booking from the investors after reaching the height of 550, the market came under sharp pressure attributing to more than 2 points loss in the second hour of trading.

Though the market tried to retrace back, the selling pressure trammeled the local bourse within the red zone.

By the end of the session, the Nepse index came to settle at 546.83 levels; limiting its loss to 0.78 points only.

Among sub-indices, only Banking sector was able to make gains, of 0.7 points whereas rest followed the benchmark index.

Insurance tumbled by a hefty 14.77 points followed by Hydro with 7.72 points. Similarly, Others dropped by 3.52 points.

As for Hotels, Development and Finance, all suffered a loss of 0.75, 0.08 and 0.43 points respectively.

In Development, the scrip of Infrastructure Development Bank Limited (IDBL) resumed for today due to cancellation of the merger process with Valley Finance Ltd, Yeti Finance Ltd and Manakamana Development Bank Ltd.

All in all, the scrips of 99 companies were traded, out of which 32 scrips gained, 16 remained intact and 51 scrips lost.

Likewise, 219,248 bonus shares of Nepal Insurance Co. Ltd. (NICL), 700,000 bonus shares  of Nepal Credit and Com. Bank Ltd. (NCCB) , 2,625,000 bonus shares of Nepal Life Insurance Co. Ltd. (NLIC), 250,000 bonus shares of Prudential Insurance Co. Ltd. (PICL) and 500,000 bonus shares of Shikhar Insurance Co. Ltd. ( SICL) were listed in Nepse today.

The best performers for the today was, Summit Micro Finance Development Bank Ltd. (SMFDB), closed at Rs 339, with the gain of Rs 25 or 7.96%.

Whereas, United Insurance Co. (Nepal) Ltd. (UIC), closed at Rs 205, was the top loser with Rs 12 or 5.53% loss.

In case of the highest shares traded among mutual fund, Nabil Balance Fund 1 (NBF1), closed at Rs 10.10, topped with 155,584 units. In case of ordinary scrips, Himalayan Distillery Ltd.  (HDL), closed at Rs 100, topped with 609,080 units.

In terms of turnover also, Himalayan Distillery Ltd. (HDL) topped with turnover worth Rs 60,908,000 via only 1 transaction. This transaction was carried out between Broker No 26 (Asian Securities Pvt. Limited) as a buyer and 16 (Primo Securities Pvt. Limited) as a seller.

Overall, 1,116,948 units of share were traded by 1,792 transactions worth Rs 226,085,901; the market capitalization by the end of the day tallied to Rs 543,671.24 million.