NEPSE Gains Substantial 41 Points to Close at 2060.91 Levels; "Market's Movement Sideways," Affirms Expert
Wed, Aug 9, 2023 3:45 PM on Stock Market, Latest,
In today's trading session, the NEPSE index closed at 2,060.91, marking a significant double-digit gain of 41.06 points or 2.03% compared to the previous trading day's closing. However yesterday, the index experienced a loss of 28.40 points.
Talking to Sharesansar, Deependra Agrawal, a big investor in the capital market, stated that currently, the movement of the market is sideways. Therefore, it decreased for a few days and increased today by 41.06 points.
Earlier, he shared his analysis of the market trends observed in the past year. He had said that during the last financial year, the market was in a consolidation phase after reaching an all-time high in the bullish cycle. He affirmed that the market has completed consolidation and is henceforth poised to break the ongoing bearish trend, which will potentially lead to a short-term bullish rally in the near future.
The trading day began with the index opening at 2,018.72. Throughout the day, it reached an intraday low of 2,000.23, demonstrating some downward momentum. However, it also had an intraday high of 2,061.08 before settling at its closing value of 2,060.91.
During the day's trading, a total of 265 scrips were exchanged through 77,501 transactions. The volume of shares traded amounted to 5,010,716, representing a turnover of Rs. 1.88 Arba. Market capitalization stood at Rs. 30.53 Kharba, with a float market capitalization of Rs. 10.78 Kharba.
Among the stocks, IME Life Insurance Company Limited (ILI) shares traded the most and had the highest turnover, with an amount of Rs. 15.5 crores, and closed at a market price of Rs. 589.
In terms of individual stock performance, Himalayan Laghubitta Bittiya Sanstha Limited (HLBSL) recorded the highest gain of 9.83% for the day.
On the other hand, Century Debenture 2088 (CCBD88) sees the highest decline of 9.99%.
Regarding sector indices, only "Mutual Fund" closed in the red. The "Hotel and Tourism" sector had the highest gain, increasing by 3.50%. However, the "Mutual Fund" sector registered the least gain, inclining by 0.96%.
