The NEPSE index ended the day at 2,358.81, down 17.93 points from the previous week’s close. This is a 0.75 percent drop in the index. Last Thursday, the index had dropped 37.87 points.
There were 37,367 transactions involving 231 scrips. The Float index is now at 162.21, down 0.64 percent, while the Sensitive index is now at 451.19, down 0.52 percent.
Gurkhas Finance Limited (GUFL) had the highest turnover of Rs. 19.27 crores, closing at Rs. 1,015.30 per share on the market. Its stock was also the most actively traded.
Gurkhas Finance Limited (GUFL) and Himalayan Distillery Limited (HDL) both struck the positive circuit breaker with gains of more than 10%. Mountain Energy Nepal Limited (MEN) was the worst performer, losing 6.17 percent to close at 1,015.10.
Image: GUFL’s candlestick chart. Take note of the sudden increase in volume.
The only two sectors that gained today were “Manufacturing & Procurement” and “Microfinance,” with the former gaining the most, 3.52 percent. “Development Bank” lost the most 2.23 percent of all the sector indices that fell.
Highlights from the Technical Analysis
The index began trading at 2,390.80 and has not moved higher since. The index subsequently dropped to 2,347.05 before ending the day at 2,358.81.
The turnover value was Rs. 2.464 Arba, with a total of 5,439,087 shares changing hands. This is more than the Rs. 2.301 Arba turnover on the previous Thursday.
The RSI (Relative Strength Index) is currently at 32.79. Last week, the reading was 33.84. From below the “30” mark, the RSI has split up. Oversold conditions are indicated by a zone below 30. However, chartists might be concerned about the RSI’s fall after reaching 36.35 on December 14. Meanwhile, with the MACD reading at -94.86, both the MACD line and the signal line are negative, i.e. below zero. Last Thursday’s reading was -93.74.
Overall, today’s market movement was not technically notable in and of itself, except that it has now resulted in three consecutive days of red in the NEPSE index, a contradiction after what appeared to be a positive signal of a 6% circuit-breaking gain on December 14.