Nepse declines 35.53 points on Tuesday, marks the second consecutive day fall

KATHMANDU, May 31: Nepal Stock Exchange (Nepse) dropped 35.53 points on Tuesday to close at 2,137.92 points.

This is the second consecutive day fall in the Nepse index following the budget announcement made by the government. In two days, the secondary market lost nearly 86 points.

On Tuesday, the market opened at 2,173.44 points and went to a straight fall of 36 points within the first half an hour of trading. The market dropped to as low as 2,127.22 points before recovering marginally for the rest of the time in the intraday trading.

The sensitive index that measures the performance of ‘A’ class companies also declined 7.11 points. With a significant fall in the secondary market in the past few months, the average share price of commercial banks has come to a very low level, almost similar to that of two decades ago.  

Except mutual funds, the rest of 12 trading groups witnessed a loss in their indices. Mutual funds gained a very nominal 0.07 points.

The turnover amount stood at Rs 1.31 billion, almost similar to Rs 1.33 billion on Monday. Among individual companies, NIC Asia Bank had the biggest transaction of its shares worth Rs 53.79 million. Nepal Investment Bank Limited Promoter Share was the topmost loser while Upakar Laghubitta Bittiya Sanstha Limited added the highest percent in its share price.