19.1 C
Wednesday, October 20, 2021
    Nepal Stock ExchangeNEPSE NewsNEPSE : After a period of intense selling, stocks begin to rebound.

    NEPSE : After a period of intense selling, stocks begin to rebound.

    Must Read

    Throughout Tuesday’s trading session, the stock market was cheerful. Early in the morning, the stock market index gained more than 30 points before seeing a slight decline. Despite this, the stock market maintained its positive momentum, continuing to rise in the late trading hours. At the conclusion, the Nepse had gained 41.84 points, bringing it to 2,612.65.

    Despite the current losing streak, investors have found some relief in the form of declining volumes, which indicates a reduction in selling pressure. In addition, some improvement was witnessed in the stock market ahead of the holiday season, which was encouraging. Since the beginning of the year, daily turnover has been at its lowest point. The total revenue for the day was less than Rs. 3 billion.

    - Advertisement -

    Only the Trading segment had a negative result. The most significant improvements were made by the Finance sector, which increased by more than 4 percent. The sub-index for Development increased by 3.12 percent as well. The microfinance, non-life insurance, hydropower, and life insurance sub-indices all the day with of more than 2 percent. All of the other sections finished in the black. Heavyweight banks saw a 1.02 percent increase in price.

    The most actively traded stock was Mero Bittiya Sanstha Ltd, which was up by 20 percent after the micro sector lender issued a 20 percent stock dividend to its shareholders. The shares exchanged hands for more than Rs. 118 million in value. Himalayan Distillery Ltd, Citizens Bank International Ltd, Nabil Bank Ltd, and Ridi Hydropower Development Company Ltd were among the other stocks that were heavily traded on the day of the trading session.

    - Advertisement -

    Himal Power Partner Ltd, Multi Purpose Finance Ltd, and Samata Bittiya Sanstha Ltd all saw their shares rise by exactly 10 percent each on the day of the announcement. Mailung Khola Jalvidhyut Company Ltd, Civil Laghubitta Bittiya Sanstha, Chhyangdi Hydropower Ltd, and Janautthan Samudayic Laghubitta Bittiya Sanstha Ltd all saw their stock prices rise by more than 9 percent each on Monday.

    The share price of NIC Asia Bittiya Sanstha Ltd plummeted after the microfinance company announced a 5.41 percent cash dividend for the fiscal year 2020/21, according to Bloomberg. The stock of Reliance Life Insurance Ltd declined as a result of a 5.26 percent dividend payout. More than 2% decreased off the value of Mountain Energy Nepal Ltd, the Salt Trading Corporation, and the Ridi Hydropower Development Company Ltd, all of which are listed on the Nepal Stock Exchange. A few companies, including Green Development Bank Ltd, Sanima Mai Hydropower Company Ltd, and Siddhartha Bank Ltd, had their stock prices fall slightly.

    A tiny bullish candlestick was produced as the index rose back above the 2,600 mark, according to technical analysis provided by ARKS. In the current environment, momentum indices continue to favour bears. With bullish divergence shown in the RSI indicators, selling pressure has been considered to be subsiding in recent weeks. If the index can bounce back and break over the short-term downtrend line near 2,700, it will likely restart its upward path.

    You May Also Like


    Please enter your comment!
    Please enter your name here

    Latest News

    Nepal Stock Exchange Ltd.

    As of 2021-10-20 15:00:00 ...

    More Articles Like This