Nepse slips 9.43 points; turnover down Rs 8.92 billion

KATHMANDU: The Nepal Stock Exchange (Nepse) index witnessed a modest correction on Wednesday, slipping 9.43 points to close trading at 2,705.38 points.

The benchmark index opened on a positive note and hit an intra-day high of 2,727.99 points in early trading. However, selling pressure intensified as the session progressed, dragging the market to an intra-day low of 2,695.78 points. A mild recovery in the final minutes helped the index close slightly above the day’s low.

Market breadth remained weak as unit prices of 174 scrips declined, while 82 advanced and three remained unchanged. Turnover also fell to Rs 8.92 billion with 21.64 million units traded through 89,766 transactions.

Ankhukhola Jalvidyut Company Ltd topped the turnover chart with Rs 433.63 million worth of shares traded. Next were NRN Infrastructure and Development and Himalayan Reinsurance Ltd with turnovers of Rs 350.59 million and Rs 332.36 million, respectively.

All sector indices, except for ‘Others’, posted losses on Wednesday. The biggest loss came from the Hotels & Tourism sub-index, which was down 1.88%. Finance Trading sub-indices followed with losses of 1.67% and 1.36%, respectively.