Equities Lose Steam After Last Week’s Surge

The Nepal Stock Exchange (NEPSE) index closed marginally lower at 2,644.70 on Tuesday, December 2. The 0.02 percent, or 0.53 points, drop followed a 0.16 percent decline on Monday and 0.99 percent on Sunday.

NEPSE had closed higher on all five trading days last week, gaining 1.55 percent on Sunday, 1.94 percent on Monday, 0.20 percent on Tuesday, 0.36 percent on Wednesday and 0.39 percent on Thursday.

Turnover also weakened on Tuesday. It fell to Rs 4.48 billion from Rs 4.71 billion the previous day. A total of 10,810,106 shares changed hands in 56,009 transactions. This compared with 10,860,828 shares traded through 60,620 transactions on Monday.

All key sub-indices ended lower. The Sensitive Index dropped 0.27 percent. The Float Index eased 0.04 percent. The Sensitive Float Index fell 0.24 percent.

Market breadth was mixed. Of the traded securities, 125 advanced, 119 declined and 13 remained unchanged.

Six companies hit the upper circuit. They were Sagar Distillery (SAGAR), Swastik Laghubitta (SWASTIK), Jhapa Energy (JHAPA), Mabilung Energy (MABEL), Bungal Hydro (BUNGAL) and Shreenagar Agritech (SAIL).

Green Ventures (GVL) was the day’s biggest loser, falling 9.85 percent.

Union Hydropower (UNHPL) topped the turnover chart with Rs 318.13 million. Mountain Energy Nepal (MEN) and Ngadi Group Power (NGPL) followed.

Of the 13 sectoral indices, five closed lower. The Trading Index rose the most, gaining 0.75 percent. Hotels and Tourism recorded the sharpest fall at 0.62 percent.

Total market capitalisation slipped to Rs 4,440.51 billion from Rs 4,441.41 billion on Monday.