NEPSE Drops 33.28 Points as Profit Booking Weighs on Market

The Nepal Stock Exchange (NEPSE) witnessed a sharp decline on Monday, shedding 33.28 points (1.21%) to close at 2,701.32, reversing the previous session's gain of 7.88 points. The benchmark index opened at 2,716.42, climbed to an intraday high of 2,744.89, and fell to a low of 2,693.03 before settling lower at the close. Market turnover reached NPR 6.08 billion, with more than 13.92 million shares of 360 listed companies changing hands through 69,803 transactions. The total market capitalization stood at NPR 46.42 trillion, while the float market capitalization was NPR 15.67 trillion. Market analysts attributed the decline to profit booking after recent gains, with the index currently finding support in the 2,660–2,680 range and immediate resistance around 2,750. A breakout above this level could open the door for a move toward the 2,800–2,850 range. Reliance Spinning Mills Limited (RSML) led the turnover chart with transactions worth NPR 338.6 million, while Everest Colour Limited (ECL) emerged as the top gainer with a 14.99% rise. On the losing side, Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) recorded the steepest decline, falling 13.38%. Among sectoral indices, the Mutual Fund sector posted the highest gain of 0.15%, whereas the Manufacturing and Processing sector suffered the biggest loss, declining 2.32%.