NEPSE Loses 9.01 Points and Closes at 2,985.57; Can the Index Surpass the Most Recent High?

The NEPSE index closed at 2,985.57 today after losing 9.01 points from the last trading day's close. The NEPSE index seems to have bounced back in great health from the support zone at the 2,800 level, but whether the index will surpass the most recent high remains a puzzle to be solved for this fiscal year.

The index opened at 3,005.43 and immediately made the intraday low at 2,975.71. The index then could not go higher than the market-open during the entire session and closed at 2,985.57.

A total of 31,608,193 shares exchanged hands amounting to Rs. 7.897 Arba in the turnover amount. This is lower than the previous trading sessions' turnover of Rs. 11.813 Arba. 219 scrips traded hands via 84,468 transactions.

The float index is at 208.32 after losing 0.5 points while the Sensitive index is at 558.11 after losing 2.82 points.

The market participation seen in the last few trading sessions is lower than that seen during the formation of the most recent peak. Whether the index will resume its upwards momentum depends on whether it can surpass the previous peak. The index has taken a significant battle between the bulls and the bears, and it seems that pessimism dominated the bulls in the market session today. 

Arun Kabeli Power Limited (AKPL) had the highest turnover of Rs. 38.78 crore closing at a market price of Rs. 533 per share. Its shares also traded the most.

Laxmi Unnati Kosh (LUK) and Laxmi Equity Fund (LEMF) closed at the upper limit of 10% intraday gain today, plausibly because of the 25% cash dividend announcement of the former mutual fund.

On the other side of things, 12% ICFC Finance Limited Debenture 2083 (ICFCD83) lost the most 6.17%.

Eight sectors lost and five others closed green today. While Mutual Fund gained the most 6.25%, Finance and Non-Life Insurance lost the most 1.17%.