NEPSE Plunges 90.73 Points, Closing at 2,739.46 Amid Broad Market Decline

September 4, 2024, 10:18:07 PM |

KATHMANDU: The Nepal Stock Exchange (NEPSE) experienced a significant drop on Wednesday, with the index plunging by 90.73 points to close at 2,739.46 points. The market opened at 2,830.20 points and witnessed a consistent downward trend throughout the trading session. The index reached its lowest point of the day at 2,733.96 points with just three minutes remaining before the session ended. However, a minor recovery saw the index close slightly higher.

The sensitive index, which tracks the performance of ‘A’ class companies, saw a sharp decline of 16.31 points, reflecting the broader market downturn. The daily turnover also decreased, falling to Rs 12.92 billion from Rs 13.57 billion on Tuesday.

Market activity revealed that only 31 companies recorded gains, while a substantial 213 companies ended the day as losers. All 13 trading groups experienced losses, with the Life Insurance group suffering the most, shedding a significant 528.70 points. Eight groups experienced triple-digit declines in their indices.

Among individual stocks, Nepal Finance Ltd recorded the highest turnover, with shares worth Rs 305.26 million being traded. On the other hand, Kumari Equity Fund emerged as the biggest loser of the day. Despite the overall negative market sentiment, four companies—Excel Development Bank, Wean Nepal Laghubitta Bittiya Sanstha Limited, Samudayik Laghubitta Bittiya Sanstha Limited, and Samaj Laghubitta Bittiya Sanstha Limited—managed to buck the trend, each gaining 10% in their market values.

This sharp decline in the NEPSE index highlights the ongoing volatility in Nepal’s stock market, with investors remaining cautious amid fluctuating market conditions. The drop in daily turnover further underscores the reduced trading activity, as market participants await more stable conditions.

As the market continues to navigate through these uncertain times, investors are keeping a close eye on economic indicators and company performances that could influence future market trends. The significant drop in the NEPSE index and the widespread losses across all trading groups suggest a need for cautious optimism and strategic decision-making in the days ahead.

Fiscal Nepal |

Wednesday September 4, 2024, 10:18:07 PM |