Nepse undergoes minor correction after three days of gains

KATHMANDU: The market recorded a slight correction after three consecutive sessions of gains, with the benchmark Nepal Stock Exchange (Nepse) index falling 5.45 points to close at 2,690.15 points on Friday.

Although the index rose during early trading, briefly crossing the psychological threshold of 2,700 points, it lost momentum and slipped into negative territory. It recovered slightly toward the close but ended the session 0.2% lower.

The Nepse gained 0.94 points on Tuesday, then rose 33.29 points on Wednesday and another 31.54 points on Thursday.

Despite Friday’s correction, market turnover increased to Rs 8.89 billion from the previous session, with a total of 22.86 million shares traded through 74,054 transactions. Of the traded scrips, 169 declined, while 102 advanced and eight remained unchanged.

Among individual stocks, Beni Hydropower Company recorded the highest gain of 14.99% yet again. Swabhiman Laghubitta Bittiya Sanstha and Lumbini Bikas Bank Ltd followed with gains of 12.11% and 7%, respectively. On the other hand, Menchhiyam Hydropower Ltd posted the largest loss of 4.08%. Super Khudi Hydropower Ltd and Sopan Pharmaceuticals Ltd followed with losses of 3.78% and 3.52%, respectively.

Lumbini Bikas Bank Ltd topped the turnover chart with transactions worth Rs 384.82 million. Shivam Cement Ltd and Ghalemdi Hydropower Ltd were next with total turnovers of Rs 303.99 million and Rs 279.74 million, respectively.

The sub-indices of eight of the 13 trading groups ended the session in the red. The biggest loss came from the Hydropower sub-index, which closed 0.57% lower. On the other hand, the Development Bank sub-index posted the highest gain of 1.61%.