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Market

NEPSE drops for third consecutive day, turnover rises modestly

Photo: bluebay2014 | Getty Images
Photo: bluebay2014 | Getty Images

Nepal’s benchmark stock index fell by 10.07 points, or 0.37%, on Thursday as losses across most sectors dragged the market lower for a third straight session. Daily turnover climbed to NRs 3.29 billion.

-the_farsight |

The Nepal Stock Exchange (NEPSE) continued its downward trend on Thursday, declining by 10.07 points to close at 2,730.17. The market has now posted losses for three consecutive trading days, following sharper declines earlier in the week.

Despite the fall in the benchmark index, investor activity increased. Daily turnover rose to NRs 3.29 billion, compared to NRs 2.80 billion recorded on Wednesday. A total of 7.95 million shares of 337 listed securities changed hands during the session.

Market breadth remained weak, with share prices of 174 companies declining, while only 80 advanced and 14 remained unchanged.

Among the top performers, Union Hydropower surged 9.79% to NRs 527 per share. Crest Micro Life Insurance also posted strong gains, rising 9.22% to NRs 1,208.

On the downside, Asian Hydropower recorded the steepest loss of the day, falling 9.89% to NRs 510 per share. Himalayan Reinsurance declined 7.12% to NRs 628.90 amid concerns after the Nepal Insurance Authority reportedly imposed a two-month restriction on the company from issuing new business.

Himalayan Reinsurance was also the most actively traded stock of the session, with transactions worth NRs 376.8 million. Sahas Urja followed with turnover of NRs 187.7 million, while SY Panel Nepal also ranked among the top traded companies.

Sector-wise, only Life Insurance and Mutual Funds ended in positive territory, while the remaining 11 sectoral indices closed lower. The “Others” subgroup posted the sharpest decline, dropping 2%.

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