Nepse extends losing streak to third straight session

KATHMANDU: The Nepal Stock Exchange (Nepse) extended its losses for a third straight session on Tuesday, shedding 19.34 points to close at 2,622.48.

The benchmark index had closed at 2,641.82 points on Monday.

Although the index posted a nominal gain initially, it soon moved into the red and declined steadily to end the session 0.73% lower. Total turnover declined slightly to Rs 5.07 billion, with 15.2 million units traded through 55,246 transactions.

Among individual stocks, Sarvottam Paints Ltd posted the highest growth of 14.99%. Next were Mount Everest Power Development Ltd and Manakamana Engineering Hydropower Ltd with gains of 14.98% and 4.78%, respectively. In contrast, Sagarmatha Jalavidyut Company posted the biggest loss of 10.63%. Khanikhola Hydropower Company and Siddhartha Equity Fund followed with losses of 9.67% and 7.14%, respectively.

Agriculture Bond (9 Year) topped the turnover chart with total transactions of Rs 506.8 million. Solu Hydropower Ltd and Khanikhola Hydropower Company followed with turnovers of Rs 391.45 million and Rs 252.64 million, respectively.

Except for the Trading sub-index, which posted a nominal 0.41% gain, all trading groups posted losses on Tuesday. The Manufacturing & Processing sub-index posted the biggest loss of 1.4%. The Others and the Hydropower sub-indices were next with losses of 0.97% and 0.92%, respectively.