SELLING PRESSURE DRAGS NEPSE FURTHER DOWN

Sharesansar, 21st January:

The stock index today also witnessed a downfall as the profit booking from the investors continues to mount selling pressure in the secondary market of Nepal.

The NEPSE which had resumed its operation from the level above 790, continued to hover below the opening level for the entire day’s session. Coming to the end of the day, the local bourse suffered a loss of 2.29 points to close at 788.03 levels.

Much of the profit taking was observed in the banking and insurance scrips today also. Further, the investors also capitalize profit in insurance scrips which in overall compiled immense selling pressure in today’s market.

Banking and Insurance both dropped by 1.9 and 2.19 points respectively. While, Hydro made a heavy plunge of 23.85 points. In addition, Other sector, which is one of the influential segments in market movement, also sustained a loss of 5.87 points.

Likewise, among the remaining sub-indices, Manufacturing declined by 0.31 points, Development and Finance added 1.69 and 1.03 point respectively to its tally.

Altogether there were trade of 120 scrips, among which 58 scrips gained, 9 scrips remained intact and 53 scrips suffered loss.

The best performer among the traded scrips was Pacific Development Bank Limited  (PADBL), closed at Rs 221, with a gain of Rs 20 or 9.95 percent. Whereas, Infrastructure Development Bank Limited (IDBL), closed at Rs 85, was the worst performer with loss of Rs 5 or 5.56 percent.

The scrip with the highest turnover in today’s market was Nepal Life Insurance Co. Ltd. (NLIC), closed at Rs 3590, with trade worth Rs 24,156,555 totaling 6,746 units which were traded through 18 transactions.

The market turnover today stood at Rs 253,108,916 with total number of shares traded at 532,187 units which were traded through 2,317 transactions.