Nepse tanks 35.73 points; turnover drops to Rs 6.67 billion

KATHMANDU: The Nepal Stock Exchange (Nepse) index snapped a three-day winning run and tanked 35.73 points, closing at 2,658.93 on Tuesday. The bearish sentiment gripped the market right after trading began, with the Nepse index failing to find support throughout the trading session.

This marked the largest intra-day decline since March 25, when the benchmark index plummeted by 58.05 points.

Market activity also saw a notable decline as turnover fell to Rs 6.67 billion. A total of 15.53 million units of securities were traded through 75,608 transactions on Tuesday, reflecting a significant drop in both the number of shares traded and transaction volume compared to the previous session.

The session saw selling pressure as share prices of 214 companies posted losses, while only 34 recorded gains. Radhi Bidyut Company Ltd led the turnover chart with Rs 601.5 million worth of shares traded, followed by Universal Power Company Ltd and Ngadi Group Power Ltd with turnovers of Rs 411.52 million and Rs 403 million, respectively. All three companies belonged to the hydropower sector.

All trading groups, except for Manufacturing & Processing and Mutual Fund, which posted nominal gains, ended the session in the red. The Banking sub-index recorded the steepest decline of 2.24%, followed by Hotels & Tourism and Trading, which were down 2.05% and 1.52%, respectively.