NEPSE slips 6.38 points

The stock market declined on Wednesday, with the Nepal Stock Exchange (NEPSE) index falling 6.38 points to close at 2,572.34.

The decline came a day after the benchmark index had gained 11.96 points. Despite the fall in the index, market turnover increased compared with Tuesday.

Shares worth NRs 3.74 billion were traded on Wednesday, up from NRs 3.13 billion on the previous trading day. A total of 103.07 million shares of 359 listed securities changed hands during the session.

Market breadth remained negative, with the prices of 167 companies declining, while 100 companies posted gains and 12 remained unchanged.

The banking sector was the only sectoral index to close higher, rising 0.08%. The remaining 12 sectoral indices declined, with the trading group recording the largest loss of 1.38%.

The development bank index fell 0.07%, finance 0.09%, hotels and tourism 0.06%, hydropower 0.03%, investment 0.55%, life insurance 0.29%, manufacturing and processing 0.73%, microfinance 0.39%, non-life insurance 0.60%, and the “others” group 0.36%.

Among individual stocks, Ghalemdi Hydro Power posted the biggest gain, rising around 5.9%. Ingwa Hydropower gained 4.85%, Sanima Middle Tamor 3.66%, and Nepal Insurance 2.99%.

On the losing side, Suryakunda Hydro Electric declined 3.64%, Yambaling Hydropower fell 3.42%, and Upper Mailung Khola dropped 3.37%.

Ghalemdi Hydro Power was also the most actively traded company, with shares worth Rs 322.1 million changing hands. Its share price rose about 5.9% to Rs 296. Reliance Spinning Mills ranked second, recording turnover of Rs 293.6 million at a share price of Rs 2,686.

Other companies among the most actively traded included Peoples Hydropower, Liberty Energy, Sanima Middle Tamor, Himalayan Power Partner, Laxmi Sunrise Bank and Himalayan Distillery.