Market falls by 13.5 points after two-day gain streak

The market declined on Friday after rising strongly for two consecutive sessions. The NEPSE index dropped by 13.46 points to close at 2,837.77.

Most sector indices ended lower, with the “Others” group falling the most, down 1.39%. Only the manufacturing and processing and hydropower sectors managed to post gains.

Out of 209 traded companies, share prices of most declined. NIC Asia Balanced Fund was the biggest loser, falling 4.17%.

Meanwhile, 56 companies recorded gains, and seven hit the positive circuit limit. These included Bhujung Hydropower, Super Khudi, Hotel Forest Inn, Palpa Cement, Ridgeline Energy, Suryakund Hydropower, and Shikhar Power Development.

Turnover also fell alongside the index. Total trading volume dropped to NNRs 8.99 billion from NNRs 9.91 billion in the previous session.

National Hydropower led the market in turnover with NNRs 513.2 million, followed by Reliance Spinning Mills with NNRs 435.9 million and Ridi Power with NNRs 381.4 million.

From this week, the market opened on Friday as well after the government announced Sunday as a holiday, citing fuel supply concerns.

Last week, the market closed at 2,782.18 points, meaning the NEPSE gained 55.59 points over the week. During the six trading sessions, total turnover reached NRs 57.25 billion.