Daily Market Summary: NEPSE Falls 2.8% and Closes at 2,513.88; All Sector Indices Take Painful Beating

The NEPSE index closed at 2,513.88 today after losing 72.3 points from last Thursday's closing. This is a fall of 2.8% on the index. The index had lost 49.04 points last Thursday.

The index opened at 2,586.82 and created the intraday high at 2,586.95. While it went as low as 2,505.13, it ultimately closed at 2,513.88. Thus, the index saw an intraday volatility of 81.82 points today. 

A total of 8,920,894 shares exchanged hands amounting to Rs. 4.09 Arba in the turnover amount. This is higher than last Thursday's turnover of Rs. 3.413 Arba. 226 scrips traded hands via 60,088 transactions.

The Float index is at 172.72 after losing 3.15% while the Sensitive index lost 2.9% and is now at 473.37. 

National Hydro Power Company Limited (NHPC) had the highest turnover of Rs. 28.62 crores closing at a market price of Rs. 404 per share. Its shares also traded the most.

Also Read: National Hydro Power Company (NHPC) Turns Up Impressive Achievement in First Quarter, What Fueled the Rise in Net Profit?

Nyadi Hydropower Company Limited (NYADI) gained the most 10% and hit the positive circuit breaker. Meanwhile, ICFC Finance Limited (ICFC) lost the most 8.32%.

All sectors have lost today. Finance lost the most 4.54%.

Technical Indicators

The NEPSE index is approaching the support zone at the 2,500 level. The index has lost 8 days in the last 10 trading days, and today's fall was one of the strongest during the timeframe.

Compared to what NEPSE was used to witnessing during the bull run, the intraday volume has dwindled, and it is in an overall declining trend.

The Relative Strength Index (RSI) is at 28.8, hence crossing below the 30 mark. This indicates oversold conditions in the overall stock market. Meanwhile, both the MACD line and the signal line are negative, i.e. below zero, with the MACD reading at -41.44. The MACD line is below the signal line, and both are negative, hence indicating a general pessimism in the market. 

Highlights of The Day:

1) National Hydro Power Company (NHPC) Turns Up Impressive Achievement in First Quarter, What Fueled the Rise in Net Profit?

2) Reliance Life Insurance (RLI) Calls AGM, When's the Book Closure for 5.2632% Dividend?

3) Sunrise Bank (SRBL) Calls AGM to Endorse 7% Dividend and Raise Authorized Capital, When's the Book Closure?