First trading day of year 2075; Internet-based trading fails to entice investors

NEPSE today has climbed just 2.60 points or 0.20%. The market had opened at 1,277.55 points today and after the announcement that stated “Transactions above Rs. 10 lakhs should disclose the source” the index swiftly began to decline during the first hour. However during the second half of the day market began to stabilize has experienced only minor fluctuations.

However, being the first trading day of the year 2075 many investors might have expected the market to climb higher than just 2.60 points. The optimism was also boosted by the circular published by SEBON on Friday, which said that the investors can place buy and sell order via internet without visiting the broker’s office. Despite that, the optimism failed to materialize itself when market saw no significant improvement.

Today, the market closed with a considerable low turnover of Rs. 30.3 crore. A total of 655,314 shares were today via 4,064 transactions.

Gurans Life Insurance Company (GLICL) stood ahead in terms of turnover as more than 1.4 crore worth shares were traded. Likewise, Janata Bank Nepal (JBNL) stood at top in case of number of shares traded as 32,319 unit shares were exchanged.

Likewise, Corporate Development Bank (CORBL) was the top gainer of the day as it gained 6.78% on its price and closed at Rs. 126. Similarly, Nepal Life Insurance CO. Ltd. Promoter (NLICP) was the top loser of the day losing 9.98% on its price closing at Rs. 874.

The sub-indices for Banking, Hydropower, Finance, Manufacturing and processing lost and ended in red zone. The Hydropower sector lost the most today tumbling by 8.33 points. Similarly, Hotels, Development Bank, Insurance, Others and Manufacturing gained and landed in green zone. The Insurance sector gained the most today going up by 83.84 points.

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