SHORT TERM INVESTORS’ PROFIT BOOKING DRAGS NEPSE; MAMMOTH TURNOVER JUSTIFIES MARKET POSITIVE SENTIMENT

Sharesansar, 22nd July:
    
Following the yesterday’s eudaemonia in Nepse, the market came to make correction today.

The capitalization in the recent surge of Nepse by short term investors attributed in today’s drop of 2.83 points in local bourse.

At the end of the day, the market came to halt at 532.89 levels.

Though the monetary policy didn’t address the policy related to increase of financial institutions’ capital requirement, the hindrance in the investors’ confidence were less likely observed.

However, the obligation to meet the minimum paid up capital of Rs 2 billion within this fiscal year kept the market’s positive sentiment intact.

The building confidence in market today propelled the day’s turnover by 9.89% to stand at Rs 192,299,625. Last time, the market reached such a mammoth total was on 30th March, 2013 tallying around Rs 207.56 million.

Overall, 734,198 units of share were traded by 1,819 transactions; the market capitalization by the end of the day tallied to Rs 529,823.62 million.

In the sub-indices, the pressure of profit booking in hydro scrips, plunged the Hydro sector by 17.82 points. Similarly, Banking also fell by the margin of 3.83 points.  

Likewise, Others, Development, Finance and Hotels declined by 3.53, 0.11, 0.74 and 0.38 points respectively while, Insurance was the only gainer with an advance of 14.33 points.

All in all, the scrips of 96 companies were traded, out of which 33 scrips gained, 11 remained intact and 52 scrips lost.

National LifeInsu. Co. Ltd. (NLICL), closed at Rs 763, and NLG Insurance Co. Ltd (NLG), closed at Rs 365, were the best performers for the today with the gain of Rs 69 or 9.94% and Rs 33 or 9.94% respectively. Whereas, Nepal Insurance Co. Ltd. (NICL), closed at Rs 233, was the top loser with Rs 17 or 6.8% loss.

In case of the highest shares traded among mutual fund, Nabil Balance Fund 1 (NBF1), closed at Rs 10.05, topped with 71,083 units. In case of ordinary scrips, NIC Asia Bank Limited (NICA), closed at Rs 748, topped with 50,250 units.

In terms of turnover also, NICA topped with turnover worth Rs 37,760,016 via 338 transactions. The broker with the highest standalone dealing of NICA was Broker No 17 (ABC Securities Pvt. Limited) with 9.98%; amounting Rs 7,541,398 via 31 transactions totaling 10,046 units which includes 2 matching transactions tallying 540 units worth Rs 403,600.