Sunday, November 21, 2021
    Nepal Stock ExchangeNEPSE NewsA drop of 60 points for Nepse as all sectors suffer losses

    A drop of 60 points for Nepse as all sectors suffer losses


    The index of the Exchange (Nepse) launched Thursday’s trading on a shaky note, according to the market. After a severe drop and subsequent recovery in the early hours of the morning, the market experienced a gradual decline in the afternoon. At the close, the Nepse was at 2,690.29, down 59.57 points from the previous session’s closing price.

    Despite the fact that trading resumed after the Tihar holidays, the index has continued to make gains to the downside. liquidity in the banking system has not yet improved, are concerned about the high deposit and loan rates, which they believe will investments to flow away from the equities market. The market also remained low, with only Rs. 5 billion worth of equities changing hands throughout the trading session.

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    All sectors had losses, with the finance, development bank, and investment sectors weighing the most on the broader index. In terms of percentage declines, the respective indices fell by 4.22 percent, 3.61 percent, and 3.05 percent. All of the other segments experienced significant declines.

    On the day in question, Mahalaxmi Bikas Bank Ltd, Bank Ltd, and ICFC Finance Ltd were the most actively traded stocks, with turnovers of Rs. 475 million, Rs. 311 million, and Rs. 292 million, respectively. Stocks in other companies that were actively traded included Api Power Company Ltd, Jyoti Bikas Bank Ltd, and Arun Kabeli Power Ltd.

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    Companies such as Manushi Laghubitta Bittiya Sanstha Ltd and Terathum Power Company Ltd were able to reach the 10 percent upper circuit level. Sahas Urja Ltd, Goodwill Finance Company Ltd, and Samudayik Laghubitta Bittiya Sanstha Ltd all saw their stock prices rise by 7.64 percent, 3.93 percent, and 3.44 percent, respectively, on the news.

    Mahalaxmi Bikas Bank Ltd and ICFC Finance Ltd both suffered losses on consecutive days. Both stocks were down by 10% on the day. As a result of posting negative earnings per share, Shiva Shree Hydropower Ltd’s stock dropped by 7.39 percent. Barun Hydropower Company Ltd, Union Hydropower Ltd, and Synergy Power Development Ltd all saw their stock prices fall by 6 percent each on Thursday.

    A bearish candlestick formed on the technical chart of the equity index, indicating that sellers are in control of the market in the current environment. A drop below the 2,700 barrier is also indicative of a weakening market. Both the RSI and the MACD are indicating the probability of a further corrective movement. A minor support level of 2,680 has been established, and a breach of this level will signal a potential slide to 2,600. On the other hand, a comeback in volume might result in the index making greater gains.

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    As of 2021-11-21 15:00:00 ...

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