Nepal Stock Exchange index falls 0.66% in shortened trading week

The Nepal Stock Exchange (NEPSE) experienced a market correction during a truncated three-day trading week, with the benchmark index closing at 2,629.81 points. This represents a decline of 17.41 points, or 0.66%, from the previous week's close of 2,647.22.

The shortened trading period was caused by a ransomware attack on Monday and a public holiday for Indra Jatra on Friday. Despite the limited timeframe, the market saw a total turnover of Rs. 18.85 Arba. The decline in market capitalization resulted in an estimated loss of Rs. 29.9 billion in investor book value.

During the week, the index reached a high of 2,671.04 and a low of 2,605.32. Sector performance was mixed; while the manufacturing and processing sector saw gains, the non-life insurance index experienced a significant slump. Technical indicators suggest a period of short-term consolidation, with the index remaining above its 5-day and 20-day Exponential Moving Averages.