NEPSE extends losing streak to four days as turnover falls sharply

The benchmark stock index, NEPSE, fell for a fourth consecutive trading session on Wednesday, although the decline was marginal. The index dropped 0.26 points to close at 2,622.22, extending its recent downward trend.

The market had fallen 19.34 points on Tuesday, 0.07% on Monday and 0.27% on Friday, following three consecutive sessions of gains.

Trading activity weakened considerably. Total turnover dropped to NRs 3.29 billion, down from NRs 5.07 billion on Tuesday. A total of 9.51 million shares changed hands through 42,709 transactions. The day’s turnover was among the lowest recorded in roughly the past month and a half, with the market previously recording NRs 3.25 billion in turnover on June 30.

Of the securities traded, 110 companies posted gains, 150 declined and 18 remained unchanged.

Five of the 13 sectoral indices closed higher, including banking, hydropower, non-life insurance, others and trading. The Trading Index recorded the strongest gain, rising 0.76%. The Hotels and Tourism Index suffered the largest sectoral decline, falling 0.38%.

Mount Everest Power Development Company was the top gainer, with its share price rising 14.99%, followed closely by Sarbottam Paints Industries, which gained 14.98%. Both stocks hit positive circuit levels.

On the downside, Manakamana Engineering Hydropower recorded the steepest decline, falling 8.45% to NRs 259 per share. Sunrise Bluechip Fund also declined 3.70% to NRs 9.63.

Sahas Urja Limited led the market in turnover, with shares worth NRs 175.2 million traded at NRs 701 per share. Solu Hydropower ranked second, recording turnover of NRs 168.8 million at NRs 682.10 per share.

The continued decline in the benchmark, combined with sharply lower turnover, points to weaker trading activity and subdued investor participation as the market remains under pressure.