The NEPSE, which had been close to 3,000 for a long time, crossed that point on Tuesday, but that situation did not last until Wednesday.
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The share turnover gauge for NEPSE is very strong to cross 3000 points. Nepsey was unable to cross the three thousand points several times during the previous trading days.
Instead, facing resistance from the same point, the higher points tend to decline. That is why experts have been analyzing that this point is very good for NEPSE.
On Wednesday, the same trend was repeated in the stock market. Despite the strong performance, the NEPSE index closed at 3,020 points on Tuesday. This situation was analyzed as NEPSE has crossed the 3000 mark and the market will rise in the coming days.
However, the analysis could not be proven correct even by Wednesday. On Wednesday, the NEPSE index fell by about 48 points to 2,954.14 points. This situation is still analyzed as the resistance of three thousand points remains for NEPSE.
Last year, the NEPSE index rose from 2,000 to 3,000 points within a month. After that, the bearish market remained between 24 and 2600 for a long time. However, the stock market started to rise in the last one-two months. At the same time, until Tuesday, the NEPSE index had reached above 3000 and was closed.
Compared to Tuesday, the NEPSE index fell by 1.59 percent on Wednesday. Out of the 226 companies traded on that day, only 23 increased as their share prices fell. In this way, after the share price of many companies fell simultaneously, the overall NEPSE fell by a high number.
141 thousand 520 shares were bought and sold that day. 3 crore 64 lakh 17 thousand 742 shares were bought and sold in that sale. In those purchases and sales, there has been a transaction worth 16 billion 44 million 13 million rupees.
Compared to the previous day, the number of transactions, the number of shares and the transaction amount all decreased on Wednesday. 40 million 18 lakh 8 thousand 966 shares were bought and sold in 1 lakh 57 thousand 525 transactions on Tuesday. Shares worth 18 billion 53 crore 52 lakh rupees were traded from those purchases.
Out of the 13 sub-groups traded on that day, all indices fell except for 'Other'. But the index of other subgroups increased by 0.85 percent (23.42 points). Among the remaining 12 sub-groups, microfinance, banking, development bank, finance company, hydroelectricity, hotel and tourism, investment, insurance sub-groups have decreased, so overall NEPSE has decreased by almost 50 points.
Although the overall NEPSE fell by 48 points, the circuit breaker hit after the share price of Sanvi Energy increased by 10 percent. Along with Sanbhi, Trade Tower, Samata Home Finance, Sikless Hydropower and Geo Energy became the top 5 companies with the highest price increase.
On that day, the share price of Green Development Bank fell the most by 8 percent. Similarly, the share price of Kalika Power decreased by 6%, CYC Nepal Microfinance and Nadep Microfinance by 5.42%, Swarojgar Microfinance by 5.26%, according to NEPSE.
With the decrease of NEPSE, the size of the stock market and the total market capitalization have also decreased by about 80 billion rupees. The total market capitalization, which was more than 50 trillion before, decreased to 49 trillion 29 billion on Wednesday.
