NEPSE plunges 58 points as market sentiment sours
KATHMANDU: The Nepal Stock Exchange (NEPSE) index suffered a significant decline today, falling 58.05 points, or 2.19%, to close at 2,582.73. The drop, recorded at 3:00 PM, underscores a prevailing bearish sentiment in the market, with investors adopting a cautious stance amid ongoing volatility and broader economic challenges.
The market recorded a total turnover of NPR 5,180,718,780.81, with 11,155,955 shares traded across 62,021 transactions involving 325 listed scripts. Despite the overall downturn, a few stocks posted gains. NCCD86 led the top gainers, rising 4.52% to close at NPR 47.60, followed by KBLD89 with a 4.22% increase, ending at NPR 46.42. PRSF saw a 3.93% uptick, closing at NPR 10.82, while SBIDB86 gained 3.04%, finishing at NPR 33.40.
Trading volumes highlighted notable activity in certain stocks. HRL recorded the highest turnover at NPR 232,017,365.20, with 219,155,460 shares traded, while UPPER saw NPR 174,339,089.30 in transactions. CIT also featured prominently with a turnover of NPR 148,321,244.20.
The market summary provides a broader view of the day’s activity. The total market capitalization stood at NPR 4,286,975,817,178.53, with the float market capitalization at NPR 1,429,875,725,839.19. The decline in the NEPSE index aligns with recent trends, as institutional investors have been booking profits and exiting positions, contributing to the ongoing bearish phase.
Analysts attribute the downturn to a mix of factors, including economic uncertainty, stagnant credit flow despite lower interest rates, and Nepal’s placement on the FATF grey list, which has eroded investor confidence.
Today’s session saw 240 stocks decline, with only four advancing and none remaining unchanged, highlighting the widespread selling pressure. The market’s technical charts indicate a continued downward trajectory, with the index struggling to find support after peaking earlier this year. Investors are now closely monitoring for potential policy interventions or positive economic indicators to reverse the trend, as the NEPSE grapples with its lowest levels in recent weeks.
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