NEPSE witnesses a small uptick after a minor correction; banking and trading sector closed in red

Thu, Jul 9, 2020 3:48 PM on Stock Market, Latest,

The stock market showed a sluggish yet bullish uptick today, closing at 1331,10, a meager 4.57 points up from yesterday's close.

A total of 2,226,203 shares were traded amounting to Rs. 908,086,197 in turnover amount. 178 scrips were traded.

Nepal Reinsurance Company Limited (NRIC) had the highest turnover of Rs. 15.18 crores. As a matter of fact, NRIC also had the most shares traded in the highest number of transactions for today. It seems that market interest is high for NRIC's shares from the day it was open for trading in the secondary market.

Nonetheless, it should be noted that NRIC's turnover is significantly lower than its own turnover yesterday, which stood at a staggering Rs. 25.57 Crores.

Float is up by 0.26 points and is currently at 93.08. On the other hand, the Sensitive Index is currently at 280.41 after gaining 0.47 points from the previous close.

Suryodaya Laghubitta Bittiya Sanstha Limited ( SLBS ) gained the most (9.99%) while closing at Rs. 881. On the other side, the mutual fund Global IME Samunnat Scheme 1 ( GIMES1 ) lost the most (3.85%) while closing at 8.5 LTP.

Interestingly, Womi Laghubitta Bittiya Sanstha Limited (WOMI), which traded after almost four months of regulatory halt, hit 10% positive circuit today.

All other sectors gained today besides the Banking sector and the Trading sector. Trading lost the most between them. The hotel sector, which lost the most yesterday has come to a 0.8% rise today.

At best, we can say that today's market movement showed indecision among investors. This can either signal the silence before a storm yet to come. However, it might also be that the bulls are losing steam.

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