NEPSE Closes 0.4% Lower at 2,622.88

After three straight days of gains, the Nepal Stock Exchange (NEPSE) index slipped into negative territory on Monday, December 29. The benchmark index fell 0.40 percent, or 10.53 points, to close at 2,622.88.

The decline followed a strong rally on Sunday, when the index surged 1.83 percent. Some market participants had attributed the previous day’s rise to improved investor sentiment after Kathmandu Metropolitan City Mayor Balendra Shah and the Rastriya Swatantra Party (RSP) sealed a seven-point agreement for the upcoming House of Representatives elections.

Last week, the index had inched up 0.12 percent on Tuesday and 0.05 percent on Wednesday. Trading was suspended on Thursday, the final trading day of the week, due to the Christmas public holiday.

Daily turnover dropped to Rs 4.77 billion from Rs 5.53 billion on Sunday. It had stood at Rs 3.22 billion last Wednesday.

More than 10.03 million shares were traded through 69,548 transactions. This was down from 13.46 million shares exchanged in 89,251 transactions in the previous day.

Of the traded securities, 165 declined, 85 advanced, and nine remained unchanged.

All major sub-indices closed lower. The Sensitive Index slipped 0.32 percent, while both the Float Index and the Sensitive Float Index fell by 0.39 percent each.

Among individual stocks, SY Panel Nepal Limited (SYPNL) hit the upper circuit and emerged as the top gainer. It was followed by Global IME Sammunat Yojana-2 (GBIMESY2), which jumped 9.94 percent.

Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) hit the lower circuit and became the biggest loser for the second consecutive day.

SY Panel Nepal Limited also topped the turnover chart, with shares worth Rs 230.24 million traded. Manjushree Finance Ltd. and Shivam Cements Ltd. followed.

Of the 13 sectoral indices, only two ended higher. The Development Bank Index rose 0.67 percent, while the Mutual Fund Index gained 0.25 percent. The Life Insurance Index recorded the steepest decline, falling 0.85 percent. The Manufacturing and Processing Index slipped marginally by 0.01 percent.

All sectoral indices had closed in positive territory on Sunday.

Total market capitalisation declined to Rs 4,403.89 billion on Monday from Rs 4,421.58 billion the previous day.