Turnover dips to 26 crores as investors opt for "wait and watch" strategy; Index rises by 1.69

The turnover on wednesday has dipped to mere 26.15 crores with the benchmark index closing at 1394.73. The investor seems to be opting for "wait and watch" stratregy. The market have been in a sideways movement since few weeks, thus leaving investors in a confused situation. The investors are currently waiting for the market to take a new trend. 

On wednesday, the nepse opened at 1393.03. The market rose to 1397 within a few minutes of opening, however the market started to fall thereafter. The market was at a low of 1391.43 after the end of first hour. The market was seen stagnent from a macro view. This shows a state of confusion among buyers and sellers.  

After many days of fall, Everest Insurance finally saw a rise in its stock price. Share price of EIC rose by 5.64% becoming the highest gaining stock. It was followed by Sindu and Synergy Power company with a gain of 4.61% and 4.49% resp. In contrary, share price of Himalayan distillary plummeted by 5.80%. It was  followed by Summit micro finance and ridi hydropower with a fall of 3.4% each. 

Promoter shares of Nepal Finance ltd. had the highest turnover of Rs 3.54 crores. It was then followed by Nabil bank and Butwal power company shares with a turnover of Rs 1.98 and 1.10 crores respectively. Shares of Nepal Finance Promoter and Prabhu bank were traded the most. 

In the sub index, all the sectors except three ended in green. Trading sector rose by 2.1% , hotel by 0.7% and others rose by 0.66. Finance, Manufacturing and Microfinance ended in Red.