KATHMANDU, Dec 28: The benchmark Nepal stock Exchange started the trading in the negative territory and decline almost 33 points.  The market mostly hovered between positive and negative note in the Monday’s trading session.   At the end, the Nepse index close with a loss of 2.66 points at 2518.99.  Only Rs. 3.125 billion worth of shares changed hands on the day.

Manufacturing sectors turned green with an increment of 2.07%.Trading, Development Bank, Hydropower, Finance and Others sector also closed in a positive note with a meager increment. On the other hand, Banking, Hotel and Tourism, Non-Life Insurance, Microfinace, Life Insurance, Mutual Fund and Investment segment ended the trading in red with a slight decrement.

Himalayan Distillery Ltd and Nabil Bank Ltd’s shares were traded the most. Over Rs. 263 million and Rs. 253 million worth of the shares changed hands respectively. Nepal Reinsurance Company Ltd, Manjushree Finance Ltd, Nepal Life Insurance Co. Ltd and Shivam Cement Ltd receded the volume over Rs. 128 million. Rs.124 million, 99 million, and Rs.83 million correspondingly.

 Madhya Bhotekoshi Jalbidhyut Company Ltd’s shares hit the upper circuit limit of 10% on the day. Nepal Hydro Developer Ltd, Janaki Finance Ltd and Goodwill Finance Co. Ltd registered the gains of 5.36%, 4.85% and 4.28% respectively. Ghalemdi Hydro Ltd, Shree Investment Finance Ltd, Shivam Cements Ltd and Mountain Energy Nepal Ltd were among other major advances with a gain of over 3% each.

Gurkhas Finance Ltd, conversely, tanked 9.99%. Samling Power Company Ltd and Mailung Khola Jal Bidyut Company Ltd and United IDI Mardi RB Hydropower Ltd fell by 6.04%, 4.88% and 4.65% respectively. Prabhu Select Fund, Kisan Laghubitta Bittiya Sanstha Ltd and Soaltee Hotel Ltd were the other losing scrips for the day.

As per the ARKS technical analysis, the index formed a small spinning top candlestick mainly reflecting uncertainty. At the current juncture, investors remain apprehensive to take heavy long position. Likewise, 2,500 support mark should be monitored to gauge Nepse’s plausible movement. Momentum indicators reflect indecision as major selling signal is yet to be observed. 

This column is produced by ARKS Capital Advisors Ltd.

(Views expressed in the article are those of the producer and do not necessarily reflect those of this publication)

 
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