Nepse ends three-day winning run, closes 38.1 points lower

KATHMANDU: Nepal Stock Exchange (Nepse) index snapped a three-day gaining streak, closing 38.1 points lower at 2,781 points on Thursday, the last trading day of the week.

Although the index gained 53.01 points and breached the psychological support level of 2,800 points on Wednesday, the market failed to sustain the momentum and went down 1.35% on Thursday.

Despite the loss, total turnover increased to Rs 8.09 billion with 17.89 million units traded through 78,379 transactions.

Unit prices of 227 scrips went down during the session, while 24 advanced. Nepal Reinsurance Company Ltd topped the turnover chart with shares worth Rs 654.4 million traded. Himalayan Reinsurance Ltd and Himalayan Distillery Ltd followed with turnovers of Rs 606.94 million and Rs 350.42 million, respectively.

Except for the Mutual Fund and Non-life Insurance sub-indices, which posted nominal gains, all trading groups ended the session in the red. Development Bank suffered the biggest loss of 2.38%. The Finance sub-index was also down by 1.97%, while Manufacturing & Processing and Others sub-indices went down by an identical 1.7%.