The Nepal Stock Exchange (Nepse) index started the trading day on a positive note, but quickly retreated to trade in the negative territory. The index, on the other hand, recovered its losses in a matter of minutes and ended up trading more than 25 points higher. Despite this, sellers dominated the market for the majority of the trading hours. It closed the day at 2,630.01, down 21.48 points from the previous session’s close of 2,630.01.
Daily turnover has also been below average, indicating a lack of significant impetus. A total of Rs. 4 billion was generated in sales.
Apart from Hydropower and Mutual Fund, which ended in green with a slight increase, the majority of the sectors ended in the red zone. The hotel and tourism, other, development bank, and finance sectors all saw their share of losses fall by 2.25 percent, 197 percent, 1.36 percent, and 1.28 percent, according to the report. All of the other segments experienced significant declines.
The most active scrips of the day were Mahalaxmi Bikas Bank Ltd, which generated turnovers of Rs. 610 million on the day in question. The development has announced a 20 percent bonus share distribution to its stockholders.. The dividend, on the other hand, has still to be approved by the Central Bank and the company’s annual general meeting.
Over Rs. 151 million in turnover was recorded by National Hydro Power Company Ltd, Rs. 124 million by ICFC Finance Ltd, Rs.99 million by Nepal Doorsanchar Company Ltd, and Rs. 91 million by Nabil Bank Ltd, respectively. Apart from these, Shine Resunga Development Bank Ltd, API Power Company Ltd, and Hydroelectricity Investment and Development Company Ltd were the other stocks that were actively traded on the stock exchange.
The shares of Ngadi Hydropower Ltd and Samling Power Company Ltd both increased by 9.99 percent and 9.98 percent, respectively, in the last year. The unit price of the Sanima Large Cap Fund increased by 4.26 percent on the same day as well. ten percent of the total In the same vein, Kalika Power Company Company, Swabhimaan Laghubitta Bittiya Sanstha ltd, Samudayik Laghubitta Bittiya Sanstha ltd, Himalayan Power Partner Ltd, and Citizen Mutual Fund-1 all saw their shares rise by more than three percent.
ICFC Finance Ltd sustained losses, and the company’s stock price dropped by 10%. In the same period, Chandragiri Hills Ltd, Mahalaxmi Bikas Bank Ltd, and Manushi Laghubitta Bittiya Sanstha Ltd had their stock prices plummet by 5.2 percent, 5%, and 4.68 percent, respectively. Companies like Unnati Sahakarya Laghubitta Bittiya Sanstha Ltd, Ganapati Laghubitta Bitshya Sanstha Ltd, Sadhana Laghubitta Bitshya Sanstha Ltd, and Sahas Urja Ltd all had their stock prices fall by three percent apiece.
According to ARKS technical analysis, the market created a bearish candlestick, which indicates that the market is experiencing weakness. Both the MACD and the RSI are pointing downward, indicating that sellers have gained control of the equity market and that momentum has slowed. At the moment, the immediate support level is located around the 2600 mark.
ARKS Capital Advisors Ltd. is the company that produces this column.
(The opinions stated in this article are those of the author and do not necessarily reflect those of the newspaper.)