Kathmandu: After eight consecutive days of gains, Nepal’s stock market experienced a significant correction on Sunday, the first trading day of the week.
Nepal Stock Exchange (NEPSE) index fell by 23.93 points to close at 1,958.71 points.
The market had opened positively, with the NEPSE index initially rising and even touching 3,013.17 points during early trading.
However, it failed to sustain the momentum and gradually declined throughout the session.
This marks a reversal in the market trend, following more than a week of continuous upward movement.
Despite the drop in the index, the daily trading turnover increased significantly. On Sunday, shares worth Rs 26.57 billion were traded on NEPSE, marking a substantial rise compared to the Rs 18.13 billion turnover recorded last Thursday.
Out of the companies traded on Sunday, share prices of 186 firms increased, while 63 companies saw a decline. Notably, Samata Domestic Microfinance and Trade Tower Company hit the upper circuit limit with strong gains, while shares of Sanvi Energy surged by 9.98 percent.
Looking at the sectoral performance, the Finance subgroup experienced the sharpest decline of 2.22 percent. In contrast, the Development Bank subgroup showed resilience, posting a 1.06 percent rise in its index.
The correction is seen as a natural pause after the market’s recent bullish run, though investors will be watching closely to see if this marks the beginning of a broader trend reversal.
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