KATHMANDU, MARCH 3
After a strong rally on the first trading day of the week, where the Nepal Stock Exchange (NEPSE) surged by 75.24 points, the market failed to sustain its upward momentum and declined by 13.62 points (0.47%) on Monday, closing at 2,876.66 points.
The index had reached an intraday high of 2,929.22 points at 11:04 AM but failed to maintain its gains, gradually declining throughout the session and settling in the 2,800s by market close.
Along with the decline in the benchmark index, the Sensitive Index, tracking Class 'A' stocks, dropped 0.76%, while the Float Index, measuring actively traded stocks, fell 0.55%.
The market was mostly negative, with eight sectors recording losses. However, some sectors managed to post gains, including Mutual Funds (1%), Others (1.68%), Non-Life Insurance (0.46%), Manufacturing & Processing (0.25%), and Life Insurance (0.77%).
On the losing side, the Hotels & Tourism sector suffered the most, dropping 1.88%, followed by the Banking sector (-1.35%) and Hydropower sector (-1.21%).
Among individual stocks, Guardian Micro Life Insurance Limited (GMLI) surged 10%, hitting the upper circuit limit, while Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) dropped 10%, hitting the lower circuit limit.
Overall, 51 stocks advanced, 187 declined, and six remained unchanged.
Despite the market downturn, daily turnover slightly increased from Rs 14.25 billion on Sunday to Rs 14.28 billion. A total of 31,241,258 units of shares from 300 companies were traded across 139,555 transactions.
