Nepse snaps two-day gaining run, closes 33.38 points lower

KATHMANDU: The Nepal Stock Exchange (Nepse) index snapped its two-day winning streak on Monday, losing 33.28 points to close trading at 2,701.32.

The index posted gains initially and remained in the green till noon. After hitting the intra-day high of 2,744.789 points, the index moved into the negative territory and fell below the psychological support level of 2,700 points. However, some last-minute buying toward the close ensured that the index remained above 2,700 points.

Investor sentiment was broadly negative as 234 stocks declined during the session. Thirty-six scrips advanced, while five remained unchanged.

Daily turnover fell to Rs 6.08 billion on the first trading session of the week, with 13.93 million units changing hands through 69,803 transactions.

Among individual stocks, Everest Colors Ltd posted the biggest gain of 14.99% during the session. Next were Garima Samriddhi Yojana and 10% Sanima Bank Ltd Debenture with gains of 4.78% and 4.55%, respectively. On the other hand, Aatmanirbhar Nepal Laghubitta Bittiya Sanstha logged the biggest loss of 13.38%. Corporated Bank Ltd and 8.5% Nepal Bank Debenture 2087 followed with losses of 9.63% and 8.57%, respectively.

Reliance Spinning Mills Ltd topped the turnover chart with Rs 338.66 million worth of shares traded. Next were Global IME Bank Ltd and Ridi Power Company Ltd with turnovers of Rs 281.39 million and Rs 221.34 million, respectively.

Except for the Banking and Mutual Fund sub-indices, which posted nominal gains, all trading groups ended the session in the red. Manufacturing & Processing posted the biggest loss of 2.32%. Next were the Trading and Hotels & Tourism sub-indices with losses of 2.23% and 2.22%, respectively.