Nepse posts fourth consecutive loss

KATHMANDU: The Nepal Stock Exchange (Nepse) index extended its losses for a fourth consecutive trading session on Wednesday, closing 16.29 points lower at 2,672.58.

The market remained under selling pressure throughout the session after opening higher. Although it erased some losses toward the closing minutes, the index ended the session 0.6% lower.

Market breadth was negative on Thursday, with 206 stocks declining, 59 advancing and 11 remaining unchanged. Total turnover fell to Rs 3.38 billion, the lowest since July 15, with 7.54 million units traded through 44.651 transactions.

Among individual stocks, Everest Color Ltd continued its winning run, hitting the 15% positive circuit. On the other hand, Kalinchowk Hydropower Ltd recorded the largest decline of 14.99%.

Reliance Spinning Mills Ltd topped the turnover chart with Rs 243.84 million worth of shares traded. Corporate Development Bank Ltd and Ridi Power Company Ltd were next with total turnovers of Rs 153.32 million and Rs 107.71 million, respectively.

All trading groups posted losses on Thursday. The Hydropower sub-index posted the biggest loss of 1.2%. Next were the Development Bank and Mutual Fund sub-indices with losses of 1.12% and 0.72%, respectively.