Market extends losing streak to fourth day, closes below 2,800

NEPSE index fell for a fourth consecutive session on Thursday, declining by 17.01 points (-0.6%) to close at 2,787.15.

The market showed broad weakness, with most sectoral indices ending lower. The hotel and tourism sector led the losses, dropping 1.42%. Banking, hydropower, insurance, microfinance, and other key groups also closed in negative territory. Only a few segments, including manufacturing and processing, mutual funds, and trading, managed to post gains.

Out of total listed stocks, 216 companies saw their share prices fall, while 46 advanced and seven remained unchanged. SuryaKund Hydro Electric recorded the sharpest decline, plunging 11.79%.

On the gainers’ side, Palpa Cement Industries and Shikhar Power Development hit the positive circuit limit with 15% gains each. Corporate Development Bank rose 9.24%, while Narayani Development Bank gained 5%.

Trading activity also weakened, with total turnover dropping to NRs 5.1 billion from NRs 7.81 billion in the previous session. Reliance Spinning Mills topped the turnover chart, with shares worth NRs 304.2 million traded.

Other actively traded companies included Solu Hydropower, Ankhu Khola Hydropower, Hotel Forest Inn, and National Hydropower Company.