NEPSE’s Rise Fails to Sustain as Traders Book Profit

  3 min 16 sec to read
NEPSE’s Rise Fails to Sustain as Traders Book Profit

June 5: The Nepal Stock Exchange(NEPSE), which saw a rise of 53 points on Sunday, decreased on Monday. The market witnessed a correction after the traders booked their profits in the market. Although the NEPSE index fell, the transaction amount increased compared to Sunday.

In the bearish market, traders tend to book their profits when the market notices an increase, resulting in a correction in the market in verey three to four days. Investors had increased their purchase after the Ministry of Finance finalized the Capital Gains Tax(CGT) at 5% and 7.5% yesterday. 

Experienced investors and experts say that it is common for the market to decrease the day after it rises. They argue that stock market will see a positive move in the near future as liquidity is easing in the banking system and interest rates are going to decrease.

The NEPSE index closed at 1,901.99 today after losing 17.38 points from the last trading day's closing. This marks a loss of 0.91%. The index gained 53.03 points yesterday.

A total of 277 scrips traded hands via 36,568 transactions. As many as  5,620,381 shares exchanged hands amounting to Rs. 1.97 Arba in turnover amount. This is higher than the last trading day's turnover of Rs. 1.65 Arba.

SHIVAM CEMENTS LTD (SHIVM) shares traded the most and had the highest turnover of Rs. 19.89 crores closing at a market price of Rs. 465 per share.

River Falls Power Limited (RFPL) gained the highest 10% and hit the positive for the day.

Conversely, SHIVAM CEMENTS LTD (SHIVM) lost the highest 4.50% today.

All sector indices closed red, "Manufacturing and Processing" lost the highest 2.46% while "Mutual Fund" lost the least 0.23% today.

Moreover, the sensitive index decreased by 0.79%, the float index decreased by 0.89%, and the sensitive float index decreased by 0.68% respectively.



No comments yet. Be the first one to comment.