Nepse ends four-day gaining streak; closes 8.18 points lower

KATHMANDU: Nepal Stock Exchange (Nepse) index snapped a four-day gaining streak and posted a nominal loss of 8.18 points on Tuesday.

The market opened for trading at 2,947.7 points and underwent several ups and downs before ending the session 0.27% lower at 2,923.46 points.

Stock market analysts have termed Tuesday’s drop in the benchmark index as a market correction after four straight days of gains, during which the market rose by 280.33 points.

Share prices of 157 companies declined on the day, while 80 advanced and six remained unchanged. Nepal Finance Ltd logged the highest turnover of the session with Rs 819.94 million worth of shares traded. Himalayan Reinsurance Ltd and Shivam Cement Ltd followed, with shares worth Rs 682.1 million and Rs 444.28 million, respectively, traded.

Among trading groups, five posted gains while eight closed the session in the red. The biggest gain came from the Finance sub-index, which was up by 1.57%, while the Hotels & Tourism sub-index logged the highest loss of 2.25%.

Daily turnover fell by nearly Rs 6 billion to Rs 21.51 billion on Tuesday. A total of 52.76 million units of shares were traded through 241,665 transactions during the session.