Market Retraction Persists: Nepse plunged 4.88

Kathmandu,08-Oct-09
Jamb Daily News Service
Stocks in home bourse stagger down for third consecutive day fronted by hefty fall in financial sectors. Out of five trading days after weeklong dashain holiday, the sole secondary market edge up higher for initial couple of days, however retreated for remaining days as price adjustment of Standard Chartered (Rs. 3620, +Rs. 56) after book closing date hammered the Nepse index to low for more than seven months. On Thursday's session, the benchmark index kicked up with subdued fall, thereafter continued to wobble down to 602.98 at the closing bell dropping 4.88 points or 0.88 percent.
In is natural that, stocks market ebbs and flow to negative and positive terrain on vary investors' outlook buoyed by several factors. However, at contemporary phase after series of downfall investors at secondary market are much more anxious regarding the health of market in near term.
Key indexes performed lackluster on today's session fronted by commercial bank index (588.68, -5.56, -0.94%) as prices of Nepal Investment Bank sagged down 5.26 percent to Rs. 900 along with others. Likewise, development bank slid 7 points to 654.24, finance plummets 2.65 points and hydropower slump single points. Others sector dragged down 7.70 points while insurance experienced slight tick in its index by 0.06 points to 609.07.
Slump down in scrip prices of most of the scrip at Nepal Stock Exchange triggered the negative end to sensitive index that lost 1.23 points or 0.82 percent to 152.43. 78 scrip Sensex consist, 14 commercial banks, 37 finance companies, 15 development bank, 10 insurance companies and one each from hydropower and manufacturing companies. However, float Index an indicator of performance of ordinary shares in the market was down 0.34 points to 57.84.
Merely 65 companies registered their presence in the secondary market with 17 gainers and 40 losers. The A-D ratio was maintained at 0.43. All in all 106154 shares traded today via 829 transactions. Moreover, Rs. 59666995 turnover was realized along with Rs.423732.95 million market capitalizations. Yesterday, 152892 shares traded today via 1059 transactions amounting to Rs. 69759919 turnover along with Rs.426176.76 million market capitalizations.
The top five standouts of the day are PFL(7.55%), SIL( 2.79%), TBBL( 2.25%), CHCL( 2.01%), IFIL(1.97%). Whereas, LBFIL(-9.79%), CMBF( -5.69%), NIB( -5.26%), ILFC( -4.55%), DCBL( -3.47%). comprised of the top five losers.