The Nepal Stock Exchange (NEPSE) saw a correction on Wednesday following a strong performance over the previous two trading days. The NEPSE index dropped by 26.07 points, or 0.99%, closing at 2,597.49 points.
Following a decline of 22.36 points on Sunday, the market rebounded with gains of 44.45 points on Monday and an impressive 114.70 points on Tuesday, surpassing the 2,600 mark after five trading days. However, it faced a downturn once again.
Many say that the NEPSE's decline was influenced by short-term traders, and this correction is viewed as a natural response following sharp gains over the past two days.
The turnover amount also decreased, falling to Rs 6.78 billion compared to Rs 7.62 billion on Tuesday, the previous trading day.
Over 15 million shares were traded in the session across 83,081 transactions.
All major indices reported losses, with the Sensitive, Float, and Sensitive Float indices down by 0.87%, 0.91%, and 0.89%, respectively.
Three Star Hydropower Limited (TSHL) became the top gainer of the day, with its share price hitting the upper circuit limit. It was closely followed by Swarojgar Laghubitta Bittiya Sanstha Ltd. (SLBBL), which saw a rise of 9.96 percent.
Conversely, Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) became the biggest loser, hitting the lower circuit limit.
In terms of turnover, Nepal Finance Ltd. (NFS) topped the list, followed by Himalayan Reinsurance Limited (HRL).
Sector-wise, only the Finance Index ended in green posting an increase of 1.75%, while the Non Life Insurance Index saw a highest 1.82% percent loss.
