KATHMANDU, April 22: The stock market continued its downward trend on Tuesday as the NEPSE index dropped by 9.96 points, closing at 2,688.32. The total trading turnover for the day stood at Rs 8.32 billion, lower than Monday’s Rs 8.77 billion.
The market decline was mainly driven by a fall in the indices of most subgroups, excluding hotel and tourism, manufacturing and processing, and others. Investment companies faced the steepest decline, down by 1.87 percent, followed by trading (-1.65 percent) and development banks (-1.61 percent).
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A total of 160 companies witnessed a drop in their share prices, resulting in losses for their investors. Corporate Development Bank hit the negative circuit breaker due to a sharp fall in its share value.
In contrast, 86 companies saw their share prices rise while one remained unchanged. Nepal Micro Insurance and Crest Micro Life continued their bullish momentum, hitting positive circuit breakers for yet another day since debuting in the secondary market.
Among the most actively traded stocks, Ngadi Group Power led the market with a transaction worth Rs 446 million. Himalayan Power Partner and Himalayan Reinsurance followed with Rs 409 million and Rs 364 million in turnover, respectively.
On Monday, the NEPSE index had fallen by 7.75 points to 2,698.28, with a trading turnover of Rs 8.77 billion.
