Market falls after four-day rally

The stock market ended lower on Wednesday, snapping a four-session winning streak as the NEPSE index fell 15.43 points to close at 2,545.40.
All 13 sectoral indices declined, led by the Development Bank index, which dropped 2.37%. The Non-Life Insurance index fell 1.57%, while the Trading and Hotel & Tourism indices declined 1.56% and 1.38%, respectively.

Trading activity, however, increased. Total turnover rose to NRs 4.2 billion from NRs 3.83 billion in the previous session. A total of 109.65 million shares of 352 securities changed hands.

Of the companies traded, 74 recorded gains, 192 declined and 11 remained unchanged.

Upper Lohore Khola Hydropower was the biggest gainer, rising 15% to NRs 299 per share. Shubham Power gained 6.40% to Rs 655, while Barahi Hydropower and Ingwa Hydropower rose 5.79% and 3.66%, respectively.

Three companies hit the negative circuit limit. Emerging Nepal, Sindhu Development Bank and Janaki Finance each fell about 15%. Emerging Nepal faced selling pressure after its promoter shares entered trading following the completion of a lock-in period. Sindhu Development Bank and Janaki Finance have also remained under pressure following an agreement with Muktinath Development Bank for their acquisition.

Kalinchowk Darshan was another major decliner, falling 14.28% to NRs 623.20 per share. Upakar Laghubitta, Muktinath Development Bank and Trishuli Jal Vidyut also posted significant losses.

Reliance Spinning Mills recorded the highest turnover at NRs 427.6 million, with its share price rising 1.80% to NRs 2,993. Central Finance followed with NRs 171.1 million in turnover, while NRN Infrastructure and Development recorded NRs 166.7 million.