Daily Market Summary: NEPSE Loses Again; Bears Slam Index Down 37.18 Points – |

NEPSE Loses 11.6 Points First Day of the Week, Intraday Turnover Declines to Rs. 4.357 Arba - |


The NEPSE index closed at 2,508.90 today after losing 37.18 points from yesterday’s closing. This is a loss of 1.46% on the index. The index had gained 32.22 points yesterday.

231 scrips traded hands via 49,741 transactions. The Float index is at 172.53 after losing 1.43% while the Sensitive index lost 1.42% and is now at 474.13.

Prime Commercial Bank Limited (PCBL) had the highest turnover of Rs. 12.36 crores closing at a market price of Rs. 443 per share. Today was the last trading day before book closure to grab the 16.6313% dividend of PCBL for the fiscal year 2077/78. The meeting of the board of directors held on Kartik 22 decided to distribute the dividend on the paid-up capital of Rs. 16.08 Arba. 16% bonus shares and 0.6313% cash dividend (for tax purposes) have been proposed.

The units of Global IME Samunnat Scheme 1 (GIMES1) traded the most. Today was the last trading day before book closure for the 100% dividend of the mutual fund for the fiscal year 2077/78. The 134th meeting of the board of directors of Global IME Capital held in Ashwin 24 decided to distribute the dividend on the paid-up capital of Rs. 1 Arba. Thus, the dividend itself is also worth Rs. 1 Arba.

Citizens Mutual Fund – 2 (CMF2) gained the most 4.65%. Meanwhile, ICFC Finance Limited (ICFC) lost the most 7.65%.

Only two sectors gained today: Trading and Mutual Fund have both gained 0.82% each. Among other sectors that closed red, Finance lost the most 3.86%.

Technical Analysis Highlights

The index opened at 2,549.36 and created the intraday high at 2,590.39. It then closed at the intraday low of 2,508.90. Thus, the index saw an intraday volatility of 81.49 points today.

With the green hammer candlestick having formed yesterday, it had appeared as though the index was trying to bounce back from the support zone at the 2,500 level. The index gained in the earlier phase of the market session today was also encouraging for investors. However, the index has ultimately closed red with a loss of 1.46%, hence closing on an inconclusive note.

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Nonetheless, the lowest point of yesterday’s hammer candlestick’s lower wick at 2,440.24 functions as probable support for the index, if the downfall continues.

A total of 8,330,093 shares exchanged hands amounting to Rs. 3.128 Arba in the turnover amount. This is lower than yesterday’s turnover of Rs. 4.542 Arba. While volume has been changing inconsistently, the trend from October 31 signals a gradual decline.

The Relative Strength Index (RSI) is at 31.18. The reading was at 33.89 yesterday. The RSI crossing below the “30” level indicates oversold conditions. Meanwhile, both the MACD line and the signal line are negative, i.e. below zero, with the MACD reading at -53.28. This reading was at -46.64 yesterday. The MACD line is below the signal line, and both are negative, hence indicating a general pessimism in the market.

Highlights of The Day:

1) Ganapati Laghubitta (GMFBS) Calls AGM and Declares Book Closure for 20% Dividend

2) Sanima Middle Tamor Hydropower Limited Wishes to Issue IPO

3) Last Day Before Book Closure for Dividend of PCBL and GIMES1

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