Nepse snaps four-day winning run, tanks 35.37 points

Himal Press 28 Jun 2023
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SHARES
Nepse snaps four-day winning run, tanks 35.37 points

KATHMANDU: The Nepal Stock Exchange (Nepse) ended its four-day winning streak, losing 35.37 points to close at 2,150.99 on Wednesday.

Stock market analysts consider Wednesday’s decline as a correction following four consecutive days of gains.

The market opened for trading at 2,193.51 points, and the benchmark index quickly breached the psychological level of 2,200 points. However, the index fell thereafter to ultimately close 1.62% lower.

Except for the Life Insurance group, which rose by 2.46%, all other trading groups ended the day in red. The biggest loss came from the Others sub-index, which was down by 3.21%. Following closely were the Finance and Microfinance sub-indices, both of which ended the day 2.99% lower.

The unit prices of 36 scrips advanced on the day, while 188 declined, and one remained unchanged. Three scrips hit the positive circuit of 10%. Himalayan Life Insurance Company Ltd was the most traded stock of the day, with 1.52 million units of shares worth Rs 837.03 million changing hands. Shivam Cement came in a distant second, with shares worth Rs 282.27 million traded.

Shares worth Rs 5.97 billion were traded in the secondary market on Tuesday through 82,359 transactions.

Published On: 28 Jun 2023

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