Market sees correction after Tuesdays’ gain; Nepse down 27.07 points

KATHMANDU: The Nepal Stock Exchange (Nepse) index witnessed some corrections on Tuesday, closing 27.07 points lower at 2,597.49 points on Wednesday.

Although the Nepse index had breached the psychological 2,600 level for the first time since September 15 on Tuesday, it failed to maintain the momentum. Share prices of 187 companies declined during the session, while 54 posted gains, and three remained unchanged.

Nepal Finance Ltd logged the highest turnover of the session with Rs 207.15 million worth of shares traded. Next were Himalayan Reinsurance Ltd and Goodwill Finance Company Ltd, with turnovers of Rs 173.17 million and Rs 159.66 million, respectively.

Among trading groups, only the Finance index closed in the green with gains of 1.75%. All other sub-indices logged losses. The biggest loss came from the Non-life Insurance sub-index, which fell by 1.82%. Next were the Manufacturing and Hotel & Tourism sub-indices, both of which were down by 1.79%.

Daily turnover also fell on Wednesday as only Rs 6.77 billion worth of shares were traded on the bourse through 83,081 transactions.