Nepse undergoes minor correction after four-day gaining streak

KATHMANDU: Nepal Stock Exchange (Nepse) index snapped a four-day gaining streak, ending trading 9.54 points lower at 2,017.97 points on Wednesday.

The benchmark index underwent some corrections on the day after adding 67.57 points over the past four sessions. Although the index posted gains initially, it erased all the gains and eventually closed the session 0.47% lower.

Share prices of 171 companies declined on the day, while 66 advanced and eight remained unchanged. Out of 13 trading groups on the bourse, only three posted gains. The biggest loss came from the Development Bank sub-index which fell by 0.96%. Manufacturing & Processing group posted the biggest gain of 1.4% on the day.

People’s Power Ltd registered the highest transactions with shares worth Rs 118.99 million traded.  Next were Nepal Finance Ltd and Shangri-La Development Bank Ltd with turnovers of Rs 109.43 million and Rs 79.81 million, respectively.

Shares worth Rs 3.7 billion were traded on the secondary market on the day through 55,862 transactions.