NEPSE falls after Monday’s rally, turnover exceeds Rs 21.5 billion
Despite the decline in the index, the market recorded robust turnover, with total transactions reaching Rs 21.50 billion during Tuesday’s trading session.
KATHMANDU: The bullish momentum seen in the Nepal stock market on Monday failed to sustain on Tuesday, as the benchmark index of the Nepal Stock Exchange (NEPSE) declined sharply despite a high trading volume.
The NEPSE index dropped by 32.08 points to close at 2,843.35 points.
The market had closed on Monday after hitting the positive circuit breaker three consecutive times, indicating strong investor enthusiasm.
However, the rally cooled off the following day with the index moving into negative territory.
Despite the decline in the index, the market recorded robust turnover, with total transactions reaching Rs 21.50 billion during Tuesday’s trading session.
According to NEPSE data, share prices of 75 companies increased, while 178 companies witnessed a decline, and five companies remained unchanged.
Among the biggest gainers, investors in Reliance Spinning Mills, Salpa Bikas Bank, and Three Star Hydropower recorded the highest profits, with all three companies hitting the positive circuit limit.
On the losing side, Himstar Urja Company posted the biggest decline of the day, with its share price falling by 6.36 percent.
Meanwhile, Ngadi Group Power Company recorded the highest trading volume, with shares worth Rs 1.09 billion exchanged during the day.
Market analysts say Tuesday’s decline reflects profit-booking by investors after Monday’s sharp surge, even as strong liquidity kept overall trading activity high.
