Nepal Stock Exchange (NEPSE) Sees Correction After Five-Day Rally; Index Drops by 24.45 Points

On Wednesday, the Nepalese stock market witnessed a correction after five consecutive days of gains. The Nepal Stock Exchange (NEPSE) index dropped by 24.45 points to close at 2,935.94 as short-term investors moved to book profits. Despite the decline in the index, the trading volume increased compared to the previous session. More than Rs. 15.09 billion worth of shares were traded through 138,256 transactions of 345 listed stocks. Shares of Reliance Spinning Mills Ltd., Super Khudi Hydropower Ltd., Solu Hydropower Ltd., Bhujung Hydropower Ltd. and Hotel Forest Inn Ltd. hit the positive circuit level, while Ngadi Group Power Ltd. topped the market in terms of trading value. Out of 13 sub-indices, only two increased while 11 declined, indicating a mild market correction.