Nepal Stock Exchange (Nepse) plunged 12.65 points on Tuesday to close at 962.80 points.
The benchmark index had went up by 30.09 points on Monday, as investors, encouraged by reports of political parties inching closer to consensus on contents of new constitution, rushed to put their money into securities.
“Investors went on a buying frenzy on Monday as they were hopeful of parties clinching a deal on constitution writing. However, brawl in the Constituent Assembly (CA) in the wee hours of Monday and subsequent polarization of political parties dashed their hopes," Narendra Sijapati, a stock broker, told Republica. “Still, the drop is not significant compare to the gain logged on Monday.”
According to analysts, the benchmark index also fell due to profit-booking sentiment among investors to cash in on Monday´s heavy gains. “Some investors opted to sell shares to earn profits from heavy surge in share prices on Monday,” another stock broker told Republica.
Most of the trading groups ended on the red zone on Tuesday. Insurance group was the biggest loser with its sub-index going down by 65.76 points to close at 4,136.6 points.
Hydropower, Banking and ´Others´ groups also shed 15.73 points, 14.2 points and 12.92 points, respectively, to settle at 2,345.72 points, 845.07 points and 747.19 points. Likewise, Finance and Hotels sub-indices were down 3.87 points and 0.82 points, respectively, closing at 513.04 points and 2,098.01 points. The Development sub-index, however, inched up 0.22 point to close at 755.87 points.
The daily turnover came down significantly compared to Monday. A total of 622,863 units of shares of 134 companies worth Rs 288.98 million were traded in the market on the day. The market had registered a turnover of Rs 863.25 million on Monday.
source: republica,21 jan 2015
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The benchmark index had went up by 30.09 points on Monday, as investors, encouraged by reports of political parties inching closer to consensus on contents of new constitution, rushed to put their money into securities.
“Investors went on a buying frenzy on Monday as they were hopeful of parties clinching a deal on constitution writing. However, brawl in the Constituent Assembly (CA) in the wee hours of Monday and subsequent polarization of political parties dashed their hopes," Narendra Sijapati, a stock broker, told Republica. “Still, the drop is not significant compare to the gain logged on Monday.”
According to analysts, the benchmark index also fell due to profit-booking sentiment among investors to cash in on Monday´s heavy gains. “Some investors opted to sell shares to earn profits from heavy surge in share prices on Monday,” another stock broker told Republica.
Most of the trading groups ended on the red zone on Tuesday. Insurance group was the biggest loser with its sub-index going down by 65.76 points to close at 4,136.6 points.
Hydropower, Banking and ´Others´ groups also shed 15.73 points, 14.2 points and 12.92 points, respectively, to settle at 2,345.72 points, 845.07 points and 747.19 points. Likewise, Finance and Hotels sub-indices were down 3.87 points and 0.82 points, respectively, closing at 513.04 points and 2,098.01 points. The Development sub-index, however, inched up 0.22 point to close at 755.87 points.
The daily turnover came down significantly compared to Monday. A total of 622,863 units of shares of 134 companies worth Rs 288.98 million were traded in the market on the day. The market had registered a turnover of Rs 863.25 million on Monday.
source: republica,21 jan 2015
LINK
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