After 2 days of consecutive positive 6% circuit; NEPSE plunged by negative 6% circuit to suspend the trading for today, total turnover stood Rs 47.66 crore

Uncertainty prevails in the market is proved by yet another circuit levels witnessed in NEPSE for the 6th consecutive trading day.

Earlier on May 12 and May 13, NEPSE hit negative 2% circuit levels to close for the day, and then on 29th June, on the normal market conditions index dropped by 4% circuit level which later recovered to settle at 1,188.70 levels. Then on 30th June, changing the trend NEPSE increased by 6% positive circuit level to close for the day at 1,260.75 index, and the same sentiment continued on 1st July i.e. yesterday to close 6% high at 1,336.52 levels. Today again, in the first few minutes NEPSE had increased by 26 points at a time which later started falling down to 4% and then 5% and finally 6% to close for the day. 

The first circuit breaker was applied at 11:23 AM for the 20 minutes when NEPSE hit 4% lower circuit or 53.50 points to close at 1283.03 index with Rs 22.32 crore turnover. The second upper circuit was stuck after 4 minutes of market opening at 11:47 PM, when NEPSE decreased by 5% or 67.04 points to close at 1,269.48 index with Rs 29.35 crore turnover. However, it took only 13 minutes for the market to suspend the trading for the rest of the day after it resumed at 12:27 PM, when it immediately hit 6% lower circuit at 12:40 PM to close at 1,256.11 index with Rs 47.66 crore turnover in the mere 40 minutes of actual trading hour. 

The total turnover amount stood Rs 47.66 crore which was achieved through trade of 1,061,890 units of shares traded through 8,409 transactions trading scrips of 142 listed companies in the process.

Nepal Reinsurance Company Limited (NRIC) and Nepal Life Insurance Company Limited (NLIC) posted the highest turnover today of Rs. 6.06 and Rs 6.005 Crore respectively with LTP at Rs.383 and Rs 1137 per share. NRIC stood ahead in terms of volume with trade of 152,449 units of shares. And in terms of highest number of share transactions also, Nepal Reinsurance Company Limited ( NRIC ) stood ahead with 3809 times.

Among the gainers, Swabhimaan Laghubitta Bittiya Sanstha Limited (SMFBS) increased the most by 8.07% or Rs 70 per share to close at 937. Whereas, out of 142 scrips traded today, 2 companies hit the negative circuit of 10% led by Soaltee Hotel Limited (SHL) and Prabhu Bank Limited (PRVU) which fell by Rs 16 and Rs 24 per share respectively. 

Sensitive Index lost by 17.99 points or 6.27% and closed at 269.03 points while Float Index fell by 6.02 points or 6.37% and closed at 88.46 levels.

In the individual sector context, other than Mutual Fund, all 11 sectors decreased by massive points. It was led by Hotels, Life Insurance, Banking sector which fell by 8.69%, 7.67% and 7.43% respectively.