NEPSE Bloodbath: Market Slumps for Fourth Straight Day as Billions Vanish in Turnover Dip!
The Nepal Stock Exchange (NEPSE) index fell for the fourth consecutive session, dropping 34.63 points to close at 2,704.08. Market turnover also saw a decline, shrinking to NPR 4.26 billion as investor sentiment remained weak.
The NEPSE index continued its downward trend on Monday, marking the fourth consecutive trading day of losses. The benchmark index dropped 34.63 points to close at 2,704.08. Other major indices also declined, with the sensitive index falling by 3.37 points, the float index by 2.21 points, and the sensitive float index by 1.36 points.
Market turnover also witnessed a contraction during the session. Compared to Thursday's turnover of NPR 4.91 billion, Monday's trading saw a total of 10,074,000 shares from 341 companies exchanged for NPR 4.26 billion across 68,635 transactions.
In terms of individual stocks, Forward Microfinance Laghubitta Bittiya Sanstha hit the positive circuit limit, with its share price surging by NPR 164.40 to close at NPR 1,260.40. Jhapa Energy also saw an 8% rise. On the other hand, Corporate Development Bank suffered the most significant loss, with its share price plummeting by 12.58%.
NRN Infrastructure & Development topped the turnover chart with NPR 313.6 million in transactions, followed by Reliance Spinning Mills at approximately NPR 180 million and National Hydropower at over NPR 155 million. Sector-wise, 12 out of 13 sub-indices ended the day in the red, with only the microfinance sector managing a marginal gain of 0.02 points.