Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: On Tuesday, the Nepal Stock Exchange (NEPSE) experienced a significant decline, dropping by 145 points or 5.18% compared to the previous day. This sharp decrease brought the NEPSE index down to 2651 points.
Despite the substantial fall in the market index, the transaction amount set a new record, reaching NPR 23.71 billion. This surpassed the previous high of NPR 21.91 billion recorded last Wednesday. All sector indices saw declines, with Banking dropping by 6.06%, Development Banks by 5.43%, Finance by 8.27%, Hotels and Tourism by 8.03%, Hydropower by 4.7%, Investment by 6.3%, Life Insurance by 6.3%, Manufacturing by 4.7%, Microfinance by 3.8%, Non-life Insurance by 5%, Others by 1.3%, and the Trading group by 5.8%.
Out of the 233 companies that saw their share prices decrease, only 8 experienced an increase, and one remained stable. Significant losers included Nepal Finance, Gorkhaj Finance, Central Finance, Panchakanya Mai Hydropower, NRN Infrastructure, Shubham Power, Hathway Investment Company, Oriental Hotel, Shri Investment Finance, Taragaon Regency, and Molung Hydropower, all of which saw their prices drop by 10%. Best Finance, Nepal Warehousing, Reliance Finance, and HIDCL also saw declines of more than 9.5%. Sanima Bank, Makar Jitumaya Suri Hydropower, Himalayan Bank, and Nepal Investment Mega Bank’s prices fell by more than 9%.
On the other hand, Threestar Hydropower and Kutheli Bukhari Small Hydro experienced a 10% increase in their prices. In terms of transaction amounts, Himalayan Reinsurance, Nepal Reinsurance Company, CEDB Hydropower, Sanima Mai Hydropower, and Shivam Cement led the market.
The heavy decline in the NEPSE index indicates a turbulent day for investors, with widespread losses across various sectors. The record-breaking transaction amount, however, highlights the intense trading activity despite the market downturn.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
