NEPSE extends losing streak, drops 7.79 points

The stock market continued its downward trend on Wednesday, with the Nepal Stock Exchange (NEPSE) index declining for the third consecutive trading session. The benchmark index fell by 7.79 points, or 0.28%, to close at 2,688.88 points.

The market had already declined by 33.28 points on Monday and 4.64 points on Tuesday, extending the losing streak into Wednesday. During the trading session, NEPSE briefly climbed to an intraday high of 2,706 points, but selling pressure in the latter half of the day pushed the index lower by the close.

A total of 97.77 million shares of 343 securities were traded through 48,072 transactions, generating a turnover of NRs 4.02 billion. This was lower than Tuesday’s turnover of NRs 4.42 billion.

Of the companies traded on Wednesday, 78 companies recorded gains, while 186 companies declined and 11 remained unchanged.

Out of the 13 sectoral groups, only Mutual Funds and the Others category posted gains. The Mutual Fund index rose 0.31%, while the Others index increased 0.43%.

The remaining sectors closed lower, putting additional pressure on the overall NEPSE index. The Manufacturing and Processing sector recorded the largest decline, falling 0.60%.

Microfinance and Finance sectors each dropped 0.60% and 0.57%, respectively, while Non-Life Insurance, Hotels and Tourism, Development Banks, and Hydropower sectors also ended lower.

Himalayan Power Partner Limited recorded the highest turnover on Wednesday, with shares worth NRs 224.8 million changing hands.

Khanikhola Hydropower Company Limited ranked second with transactions worth NRs 211.7 million, followed by Reliance Spinning Mills Limited with turnover of NRs 179.1 million.

Everest Colour Limited posted the biggest gain of the day, with its share price rising 14.99%. Snow Rivers gained 4.90%, while Khanikhola Hydropower and Himalayan Power Partner increased 3.62% and 3.35%, respectively.

On the losing side, Garima Samriddhi Yojana suffered the largest decline, falling 6.60%. Corporate Development Bank and Shubham Power also recorded notable losses.

Overall, the continued decline in NEPSE, along with falling turnover and weakness across most sectors, reflected cautious investor sentiment in the market.