Profit booking led NEPSE slide by 1.21% or 17.5 points; Hotel sector increased by 8.99%

The market today closed at 1,432.44 levels, an overall 1.21% decline.

31.65 points volatility was witnessed in the trading today, wherein the highest level was 1461.30 and the lowest was 1429.65.

A total of 3,586,000 shares exchanged hands amounting to Rs. 1,532,511,716 in the turnover amount. Although this figure is lower than yesterday's, it certainly is a massive amount compared to the usual 1 Arba turnover amount on average. 183 scrips were traded via 38,938 transactions.

NIC Asia Laghubitta Bittiya Sanstha Limited (NICLBSL) had the highest turnover of Rs. 18.15 crores closing at a market price of Rs. 805 per share. Nepal Reinsurance Company Limited (NRIC) has the second-highest turnover of Rs. 16.23 crores. Nepal Reinsurance Company Limited (NRIC) also had the highest number of shares traded for the day among all companies.

Float is down by 1.27 points and is currently at 100.84. On the other hand, the Sensitive Index is currently at 303.14 after losing 3.9 points from the previous close.

All three companies of the Hotels sector: Oriental Hotel Limited (OHL), Taragaon Regency Hotel Limited (TRH), and Soaltee Hotel Limited (SHL) hit a positive circuit today closing at Rs. 363, Rs. 210, and Rs. 173 LTP respectively. On the other hand, Nepal Seva Laghubitta Bittiya Sanstha Limited (NSEWA) lost the most 8.61%.

Hotels and Mutual Fund gained today while all other sectors ended red. Hotels soared the most 8.99% while the sector labeled as "Others" lost the most 1.79%.

In our speculation, the fall is likely caused by huge amounts of selling pressure from early profit-booking.

However, this is not an expert opinion and is not to be taken as investment advice.

How do you feel about this market move? Drop your own opinion in the comment section.