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Stock market

NEPSE falls 21 points after three-day rally

The stock market fell 21.19 points to 2,612.42 as all 13 sectoral indices declined and daily turnover dropped to NRs 5.39 billion from Tuesday’s 8.29 billion rupees

-the_farsight |

The stock market reversed its three-day winning streak on Wednesday, with the Nepal Stock Exchange (NEPSE) index falling 21.19 points to close at 2,612.42.

The decline came a day after the index surged 48.57 points following Finance Minister Dr. Swarnim Wagle’s 21-point action plan aimed at strengthening and reviving the capital market.

All 13 sectoral indices closed lower on Wednesday, with the hydropower sub-index recording the steepest decline of 1.04%.

Market participation also weakened. Total turnover fell to NRs 5.39 billion from NRs 8.29 billion on Tuesday. A total of 203.87 million shares of 347 securities changed hands during the session.

Of the companies traded, shares of 42 companies gained, while 225 declined and 12 remained unchanged. Narayani Development Bank posted the largest gain, rising 6.37% to NRs 745 per share.

Among the decliners, NMB Hybrid Fund L-2 fell 7.73% to NRs 8.47 per unit, recording the steepest drop. Ridge Line Energy declined 5.21% to NRs 784.90 per share.

Himal Dolakha Hydropower was the most actively traded company, with shares worth NRs 379.5 million changing hands at NRs 228 per share. Reliance Spinning Mills followed, recording turnover of NRs 251 million at NRs 2,810 per share.

The market’s decline reflected broad-based selling pressure, with every sectoral index ending the session in negative territory.

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