Kathmandu: The Nepal Stock Exchange (NEPSE) index fell 20.48 points to close at 2,566.76 on Monday, the first trading day of the week.
The market declined steadily from the opening and remained under pressure throughout the trading session.
Trading turnover also decreased, with shares worth Rs 3.27 billion changing hands through 44,777 transactions involving 90 million shares of 359 companies. Friday’s turnover stood at Rs 3.89 billion.
Share prices of 32 companies increased on Monday, while 242 companies declined. The share prices of four companies remained unchanged.
Most sectoral indices also ended lower. The banking sector fell 10.73 points, development banks 29.16 points, finance 24.36 points, hotels 73.28 points, hydropower 36.95 points and investment 1.01 points.
Similarly, life insurance declined 93.81 points, manufacturing 104.51 points, microfinance 27.24 points, non-life insurance 60.99 points and the Others group 16.67 points. The trading sector was the only gainer, rising 10.71 points.
Market sentiment has remained under pressure following a Securities Board of Nepal provision requiring shareholders holding more than 5 percent of a company’s shares to provide information before selling.
The provision was introduced amid concerns over increased selling by promoters following the end of the lock-in period. The House of Representatives’ Finance Committee has also directed the board to reconsider the provision.
Share-price adjustments during the dividend season have also contributed to the recent decline in the market index.
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