NEPSE drops 36 points as market-wide selling drags index lower

The Nepal Stock Exchange (NEPSE) index fell 36.25 points, or 1.36%, to close at 2,618.03 on Wednesday as selling pressure hit all 13 sectoral indices.

Turnover also declined, with shares worth NRs 6.35 billion changing hands, compared with NRs 7.04 billion on Tuesday. A total of 216.2 million shares of 352 listed companies were traded during the session.

The market breadth was overwhelmingly negative. Share prices of 253 companies fell, while 23 gained and two remained unchanged.

The life insurance sector recorded the steepest decline, falling 2.04%. The hydropower index dropped 1.66%, while the other sectors also ended lower, including banking, development banks, finance, hotels and tourism, investment, manufacturing, microfinance, non-life insurance, others and trading.

Dhaulagiri Microfinance was the biggest gainer, rising 15% to NRs 1,341.90 per share. CYC Nepal Microfinance gained 5.44% to NRs 1,531, while Development Hydropower, Bottlers Nepal Balaju and Mid Solu Hydropower also posted gains.

First Microfinance suffered the biggest loss, falling 8.54% to NRs 750 per share. Mount Everest Power declined 5.72% to NRs 646.20, while Ingwa Hydropower and Pure Energy also recorded notable losses.

Shivam Cement was the most actively traded company, with shares worth NRs 383.4 million changing hands at NRs 687 per share, up 2.90% from the previous session. Reliance Spinning Mills followed with turnover of NRs 212.5 million at NRs 2,722.90 per share.

The market had opened on a positive note, with the NEPSE index gaining around 15 points during the pre-opening session. However, the gains quickly reversed as selling pressure intensified, pushing the benchmark down 36.25 points by the close.