Market falls 24 points with slightly higher turnover

After five days of gains, the Nepal Stock Exchange (NEPSE) index declined by 24.45 points on Wednesday, closing at 2,935.94. This comes after a 23.83-point rise in the previous session.

Despite the drop in the index, trading turnover increased but only slightly to NRs 15.09 billion from NRs 14.83 billion the day before. A total of 35.8 million shares were traded, with 45 companies seeing price gains, 213 declining, and 7 remaining unchanged.

The trading sector led the gains, rising 3.45%, largely driven by Bishal Bazaar, which increased 3.77%. The Manufacturing and Processing sector also rose 0.48%. All other sectors posted losses, including Banking (-1.40%), Development Banks (-2.32%), Finance (-2.09%), Hotel & Tourism (-0.05%), Hydropower (-0.16%), Investment (-0.53%), Life Insurance (-1.39%), Microfinance (-1.64%), Non-Life Insurance (-1.15%), and Others (-1.70%).

Among individual stocks, five companies hit the 10% ceiling: Reliance Spinning Mills, Solu Hydropower, Super Khudi Hydropower, Bhujung Hydropower, and Hotel Forest Inn. Panchakanya Mai Hydropower gained 9.7%.

On the downside, Abhiyan Laghubitta recorded the largest loss of 7.74%, followed by Salpa Development Bank (-6.99%), Corporate Development Bank (-6.71%), and Sindhu Development Bank (-6.09%).

The most actively traded companies were Ngadi Group Power, Api Power, Shivam Cement, Super Madi Hydropower, and SY Panel. 

Overall, the market displayed a mixed trend, with trading and manufacturing sectors in positive territory while most other sectors declined.