The Nepal Stock Exchange (Nepse) index experienced a downturn on Wednesday, shedding 21.67 points to conclude trading at 2,097.93 points, ending a three-day winning streak. Despite an initial surge that saw the benchmark index reach an intra-day high of 2,131.29 points, the momentum could not be sustained, resulting in a 1.02% dip by the end of the trading session.
The market saw a mixed performance with 215 companies witnessing a decline in share prices, while 29 companies advanced, and three remained unchanged for the day. Himalayan Reinsurance Company Ltd retained its position as the leader in turnover, with shares worth Rs 638.78 million traded. Following closely were NRN Infrastructure and Development Ltd and Ngadi Group Power Ltd, with turnovers of Rs 260.17 million and Rs 242.64 million, respectively.
On a sectoral basis, except for the Manufacturing and Processing group, all trading groups experienced losses. The Hotels & Tourism sub-index took the biggest hit, dropping by 2.04%, followed by the Development Bank and Finance sub-indices, which recorded losses of 1.93% and 1.91%, respectively.
A total of Rs 5.29 billion worth of shares were traded on the Nepse through 95,645 transactions on the day, reflecting the continued vibrancy and activity in the market despite the day’s overall negative performance.
Investors and market participants will be closely monitoring developments in the coming sessions to gauge the market’s resilience and potential for a rebound in the near future.