Investors in Shock as NEPSE Loses 42.78 points; NEPSE Index at 1,396.28; Total Turnover 1.84 Arba

The market today closed at 1,396.28 levels, falling in double digits by 42.78 points (2.97%).

The market was red throughout the day, with the open itself being the intraday high. The market closed at its intraday low.

Thus, today's volatility is equal to the total decline in the NEPSE index for the day, i.e. 42.78 points.

Even though the market trended down, a total of 4,661,608 shares exchanged hands amounting to an impressive Rs. 1,841,242,332 in the turnover amount. 189 scrips were traded via 27,860 transactions.

Nepal Reinsurance Company Limited (NRIC) has the highest turnover of Rs. 22.65 crores closing at a market price of Rs. 586 per share. Nepal Life Insurance Company Limited (NLIC) has the second-highest turnover of Rs. 14.56 crores. Nepal Reinsurance Company Limited (NRIC) also has the highest number of shares traded for the day among all companies.

Float index is down by 3.17 points and is currently at 97.81. On the other hand, the Sensitive Index is currently at 292.77 after losing 8.18 points from the previous close.

Aarambha Chautari Laghubitta Bittiya Sanstha Limited (ACLBSL), Ajod Insurance Limited (AIL), Nepal Finance Limited (NFS), Chhyangdi Hydropower Company Limited (CHL), and Ankhukhola Hydropower Company Limited (AKJCL) hit positive circuit today.

On the other hand, Joshi Hydropower Development Company Limited (JOSHI) lost the most 9.72% followed by Oriental Hotel Limited (OHL) which lost 7.88%.

All sectors closed red today, with Hotels losing the most 4.49%.

It feels as if NEPSE is on correction mode. How do you interpret this market move?