Nepal Stock Market Drops 0.57%, Finance Sector Leads Losses

The Nepal Stock Exchange (NEPSE) witnessed a significant decline on April 29, with the index falling by 15.08 points to close at 2,631.98. This marks a 0.57 percent drop in the overall market.

According to NEPSE, over 18.49 million shares of 311 companies were traded in more than 66,000 transactions. The total trading value for the day stood at approximately Rs. 7.57 billion.

While the mutual fund sector showed a slight improvement, rising by 0.07 percent, all other sector indices saw a decline. The finance group recorded the biggest drop, falling by 1.22 percent. Other sectors also declined, including banking by 0.57 percent, development banks by 0.90 percent, hotel and tourism by 0.20 percent, investment by 0.83 percent, and life insurance by 0.54 percent.

Meanwhile, the manufacturing and processing sector fell by 0.34 percent, microfinance by 0.78 percent, non-life insurance by 0.32 percent, trade by 0.51 percent, and the others group by 0.75 percent.

On the bright side, shares of Corporate Development Bank Limited and Crest Microlife Insurance Limited hit the positive circuit limit, indicating strong gains. In contrast, Madhya Bhotekoshi Hydropower Company Limited experienced a sharp fall, with its share price dropping by 9.98 percent, making it the biggest loser of the day.

Sanimamai Hydropower Limited had the highest turnover in terms of transaction amount, with trades worth Rs. 824.37 million. Ngadi Group Power Limited recorded the highest number of shares traded, with transactions amounting to Rs. 1.69 million.