Nepse extends losing run to fifth straight session

KATHMANDU: The Nepal Stock Exchange (Nepse) index extended its losing streak to a fifth consecutive trading session on Thursday, the final trading day of the week, even as market turnover posted a modest improvement.

The benchmark index slipped by 2 points to close at 2,649.51 points. This marks the longest losing run since December 9 last year, when the market snapped a six-day losing streak.

The market opened at 2,648.21 points and climbed to an intraday high of 2,664.85 points in early trading. However, selling pressure intensified as the session progressed, pushing the index to an intraday low of 2,640.62 points. Although the index pared some losses toward the close, it still closed the session in the red.

Despite the decline in the benchmark index, trading activity improved marginally with 7.73 million units worth Rs 3.94 billion traded through 39,546 transactions. Unit prices of 170 scrips declined during the session, while 85 advanced and 20 remained unchanged.

Among individual stocks, newly listed Snow Rivers hit the positive circuit of 15%, while Taksar Pikhuwakhoa Hyropower Ltd and Yambaling Hydropower Ltd saw their share prices advance by 14.98% each. In contrast, Kalika Laghubitta Bittiya Sanstha Ltd logged the largest loss of 10.76% on Friday. Global IME Bank Debenture 2086/87 logged the highest turnover of the session with debenture units worth Rs 331.65 million traded. Next were Global IME Bank Debenture 2084/85 and 8.5% Nepal Bank Ltd Deventure 2087 with turnovers of Rs 285.77 million and Rs 223.41 million, respectively.

Five trading groups posted gains, while the remaining eight ended the session in the red on Friday. The Trading sub-index posted the biggest gain of 1.08%. On the other hand, the Investment sub-index posted the biggest loss of 0.58%.