KATHMANDU, June 26 : Nepal's stock market declined for the fifth consecutive trading day on Friday, with the Nepal Stock Exchange (NEPSE) index slipping by 2 points to close at 2,649.51.
Most sectoral indices ended in negative territory, with only the hotel and tourism, hydropower, mutual fund, non-life insurance and trading sub-indices posting gains.
The trading sub-index recorded the biggest increase, rising 1.08 percent. Share prices of 170 listed companies declined during the session, with Kalika Laghubitta Bittiya Sanstha registering the steepest fall of 10.76 percent.
Nepse extends losing streak
The benchmark index has dropped by 53 points over the past five trading sessions, falling from around 2,702 points last Friday to 2,649.51. The index has now retreated to its level of approximately four months ago after a sustained downward trend.
Daily turnover, however, increased significantly. Shares worth Rs 3.94 billion were traded on Friday, up from Rs 2.83 billion on Thursday, when the benchmark had fallen by 8.50 points.
The two most actively traded securities were debentures issued by Global IME Bank. Global IME Debenture 2086/87 recorded transactions worth Rs 331.6 million, while Global IME Debenture 2084/85 posted turnover of Rs 285.7 million.
Nepal Bank's debenture also saw strong trading, with transactions totaling Rs 223.4 million.
Despite the overall market decline, share prices of 85 companies gained during the session. Three companies hit the daily upper trading limit, or positive circuit, namely Snow River, Taksar Pirkhuwa Khola Hydropower and Yambaling Hydropower.
