KATHMANDU, April 29: Nepal’s secondary market declined by double digits on Wednesday, with the Nepal Stock Exchange (NEPSE) index dropping 25.81 points to close at 2,744.45.
Despite reports that the government has been working on reforms in the capital market, investors remained largely unenthusiastic.
On the third trading day of the week, all sub-indices except development banks, mutual funds and trading posted losses, dragging down the overall benchmark. The manufacturing and processing sector recorded the steepest decline, falling 2.24 percent.
Nepse hits 2-year high after week's broad surge
Share prices of 235 companies declined during the session. The unit price of Kumari Bank’s debenture fell the most by 11.46 percent. Similarly, shares of Shikhar Power dropped 9.92 percent, while Palpa Cement declined 7.79 percent.
Meanwhile, share prices of 30 companies advanced, while four remained unchanged. Corporate Development Bank recorded the highest gain of the day, rising 13.81 percent.
Alongside the index decline, market turnover also continued to shrink. After recording transactions worth Rs 6.53 billion on Tuesday, total trading on Wednesday was limited to Rs 4.98 billion.
Reliance Spinning Mills recorded the highest turnover of the day with shares worth Rs 241.9 million traded. It was followed by Palpa Cement with Rs 202.2 million and Corporate Development Bank with Rs 182.4 million worth of transactions.
