The daily price limit and circuits

NEPSE limits how far most scrips can move in one session: 10% above or below the previous close. A scrip that closes at that edge is said to have hit its upper or lower circuit.

Some scrips have a different band, for example in their first sessions after listing, which is why you will sometimes see a day's change above 10% on the movers board. NEPSE's own notices are the final word on which band applies.

At the upper limit the price cannot go higher that day, so buyers who want more have to wait in the queue and sellers set the pace. At the lower limit it is the reverse.

Because the price stopped at the limit rather than where buyers and sellers would have met, a limit close says the move was cut short, not that it finished. What happens the next sessions varies: some keep going, many give part of it back.

Scrips at the limit carry a circuit tag on the stock page, the watchlist, the movers board and the floorsheet. The daily recap lists every scrip that closed at either limit.