Daily Summary: NEPSE Index Tests Resistance Zone at 2800, Intraday Turnover Higher Than Yesterday

Mon, Jan 10, 2022 3:34 PM on Stock Market, Latest,

-ShareSansar

The NEPSE index closed at 2,784.95 today after gaining 19.43 points from yesterday's closing. This is a minimal gain of 0.7% on the index. The index had gained 73.01 points yesterday.

236 scrips traded hands via 77,183 transactions. The Float index is at 191.12 after gaining 0.33% while the Sensitive index gained 0.61% and is now at 522.53.

Gurkhas Finance Limited (GUFL) had the highest turnover of Rs. 22.77 crores closing at a market price of Rs. 829 per share. The shares of Hydroelectricity Investment and Development Company Limited (HIDCL) traded the most.

A total of three companies technically gained 10%, hence hitting the positive circuit breaker. Meanwhile, Prabhu Select Fund (PSF) lost the highest 3.17%, hence closing at Rs. 9.17.

Three sectors lost and all others closed green. While "Hotels And Tourism" lost the highest 1.18%, "Others" gained the highest 5.48%.

Technical Analysis Highlight

The index opened at 2,772.09 and created the intraday low at 2,756.03. While it went as high as 2,804.84, it ultimately closed at 2,784.95. Hence, it can be seen that the market tested the resistance zone at the 2,800-zone and failed to close above it for the time being. Whether the index will break above or bounce back from this zone relies on upcoming market sessions.

Today's market movement has led to the formation of a small-bodied green candle on the candlestick chart with wicks on either side.

Furthermore, a total of 14,288,130 shares exchanged hands amounting to Rs. 7.123 Arba in the turnover amount. This is higher than yesterday's turnover of Rs. 7.101 Arba. This week's intraday turnover has been promising so far, although we have only been two trading sessions into the week.

The Relative Strength Index (RSI) is at 66.77. The reading was at 65.66 yesterday. Meanwhile, the MACD line has crossed higher from the zero line, with the MACD reading at 41.79. This is an optimistic indication. The MACD reading was at 30.32 yesterday. The MACD line had already crossed over the signal line a few weeks ago, indicating a mild bullish sentiment.