Kathmandu, July 9: Nepal’s stock market declined for the second consecutive trading day on Thursday, with the NEPSE index falling 19.67 points to close at 2,601 points, following a 30-point drop in the previous session.
Daily turnover also declined. While shares worth Rs. 4.82 billion were traded on Wednesday, the day’s turnover fell to Rs. 4.61 billion on Thursday.
The market remained in negative territory throughout most of the trading session. Share prices of 42 companies advanced, while 229 companies declined and six remained unchanged.
All sectoral indices closed lower. The banking sector fell by 0.50 percent, development banks by 1.11 percent, finance by 0.62 percent, hotels and tourism by 0.76 percent, hydropower by 0.70 percent, investment by 0.95 percent, life insurance by 0.61 percent, manufacturing and processing by 1.19 percent, microfinance by 0.69 percent, non-life insurance by 0.66 percent, others by 0.18 percent, and trading by 2.36 percent.
Among the gainers, Upakar Laghubitta surged 12.68 percent, while Snow Rivers rose 11.76 percent. Janautthan Laghubitta gained 3.09 percent, and Trishuli Hydropower increased by 2.77 percent.
On the losing side, Salapa Development Bank dropped 8.28 percent, Three Star Hydropower declined 7.92 percent, and Om Megashree Pharmaceuticals fell 5.76 percent.
In terms of turnover, debentures topped the list, followed by Reliance Spinning Mills, Asian Life Insurance (Founder Shares), Aankhu Khola Hydropower, Central Finance, and Best Finance.
The market has now fallen for two consecutive days since the announcement of the Monetary Policy. Investors appear to be concerned about the new provision stating that the share-backed loan limit will be determined based on the financial strength of the lending institution, creating uncertainty in the market. #nepal #NEPSE #stock
