NEPSE Retreats After Brief Move Above 2,700 Points

The Nepal Stock Exchange (NEPSE) index briefly crossed the 2,700-point mark on Wednesday but failed to sustain the momentum, closing the session in negative territory.

After remaining below 2,700 points for the past four trading days, the benchmark index opened with a gap down at 2,659.86 before climbing to an intraday high of 2,702.90. However, profit-taking dragged the market lower, and it closed at 2,681.50—down 1.64 points from Tuesday’s close of 2,683.15. Analysts viewed the intraday move as a rebound attempt following a support test.

NEPSE declined 0.06% on Wednesday, extending a volatile week. The index had fallen 0.73% on Sunday, edged up 0.05% on Monday, and dropped 0.46% on Tuesday.

On the candlestick chart, a green candle with a medium body and a long upper wick formed, indicating selling pressure near higher levels and suggesting cautious sentiment in the short term, according to market analysts.

Trading activity saw 16.68 million shares exchanged through 80,422 transactions, with a total turnover of Rs 7.49 billion. This was lower than Tuesday’s volume of 18.7 million shares traded via 92,338 transactions, which generated a turnover of Rs 8.63 billion. Of the traded stocks, 113 advanced, 134 declined, and 13 remained unchanged.

All major sub-indices closed in the red. The Sensitive Index fell 0.15%, the Float Index declined 0.10%, and the Sensitive Float Index slipped 0.12%.

Among individual stocks, Kalinchowk Darshan Limited (KDL), Super Mai Hydropower Limited (SMH), Super Madi Hydropower Limited (SMHL), and Ankhu Khola Jalvidhyut Company Ltd (AKJCL) hit the upper circuit, emerging as the top gainers.

HLI Large Cap Fund (HLICF) was the top loser, plunging 5.54%.

In terms of turnover, AKJCL led the market with Rs 800.07 million, followed by SY Panel Nepal Limited (SYPNL) and Radhi Bidyut Company Ltd (RADHI).

Of the 13 sectoral indices, six ended lower. The Finance Index posted the highest gain, rising 0.93%, while the Manufacturing and Processing Index recorded the steepest decline, down 0.53%. Banking, Life Insurance, Microfinance, Mutual Fund, and Others also closed in negative territory.

Total market capitalization slipped to Rs 4,502.30 billion from Rs 4,505.07 billion on Tuesday.