Market opens week in the red; Nepse slips 1.46 points

KATHMANDU: The Nepal Stock Exchange (Nepse) index posted a nominal loss of 1.46 points to settle at 2,700.65 points, just above the psychological support level of 2,700 points, on Monday.

The benchmark index came under pressure in early trading and stayed below the 2,700-point mark for much of the session. However, late buying helped the market recover part of its losses toward the close.

Despite the slight decline in the benchmark index, total turnover improved to Rs 4.45 billion, with more than 8.13 million units traded through 90,862 transactions. Unit prices of 116 scrips advanced during the session, while 143 declined and 14 remained unchanged.

Among individual stocks, the newly-listed Taksar Pikhuwakhola Hydropower Ltd and Yambaling Hydropower Ltd hit the 15% positive circuit. Saptakoshi Development Bank Ltd followed with a gain of 7.33%. On the other hand, 8.5% Nepal Bank Ltd Debenture 2087 posted the biggest loss of 3.87%. Sopani Pharmaceuticals Ltd topped the turnover chart with total transactions of Rs 374.45 million. NRN Infrastructure & Development and 10.25% NBBL Debenture 2085 were next with turnovers of Rs 305.13 million and Rs 289.18 million, respectively.

The sub-indices of three out of 13 trading groups ended the session in the green on Monday. The Finance sub-index posted the biggest gain of 1.01%. On the other hand, the Mutual Fund sub-index posted the biggest loss of 0.68%.