NEPSE loses massive 22.91 points; All sectors in red: Has the bullish run exhausted itself?

Tue, Sep 22, 2020 3:45 PM on Stock Market, Latest,

The NEPSE index lost a massive 22.91 points (1.46%) today and ultimately closed at 1,546.15.

Overall 35.44 points volatility was witnessed in the trading session, with the highest point being 1,577.19 and the lowest being 1,541.75. Importantly, the intraday day is near the day's open and the intraday low is near the day's close.

7,856,788 shares traded hands via 47,944 transactions to produce a total turnover of Rs. 2.81 Arba. 199 scrips were traded.

The float index lost 1.75 points and closed at 107.16 while the Sensitive index is at 307.39 after losing 4.84 points.

Shikhar Insurance Company Limited's shares produced the highest individual scrip turnover of Rs. 31.95 crores. Meanwhile, Nepal Bank Limited's shares traded the most. 

If we look at individual securities, no scrip gained 10% today. United Finance Limited (UFL) gained the most 6.82% and closed at Rs. 235 per share. Meanwhile, Liberty Energy Limited (LEC) lost the most 9.88%. LEC has been losing from the day it traded in the secondary market.

In contrast, if we look at the overall sectors, every sector lost today. Development Banks lost the most 2.18% today, followed by Hydropower companies which lost 2.02%.

Furthermore, three red candles have been seen in NEPSE's chart in three consecutive days, each closing lower than the last. This is called a three black crows pattern in candlestick analysis, which is a bearish reversal pattern.

Where do you think the market is headed? Drop your opinion in the comment section below.

Disclaimer: Via this article, Sharesansar refuses to make any projection of NEPSE in the future. Financial markets are prone to volatility and unexpected loss.