Nepse landslides with 60.77 points, daily turnover crosses just Rs 3 billion on Sunday

KATHMANDU, Feb 12: Nepal Stock Exchange (Nepse) on Sunday dropped a whopping 60.77 points to close at 2,121.86 points.

The secondary market opened at 2,182.63 points and went to a straight fall throughout the trading hours. The notable fall in the share market took place as a reaction of investors who were disappointed with the mid-term review of monetary policy by Nepal Rastra Bank (NRB) on Friday, said stockbrokers.

Except revising few indicators, the NRB has kept almost all the measures introduced in the monetary policy unchanged for this fiscal year. The private sector has been blaming the central bank for enforcing contractionary policy for the excessive hike in interest rate, which is blamed for taking down the pace of economic activities in the country.

Despite a heavy decline in the index, the daily turnover increased to Rs 3.047 billion from Rs 2.062 billion on Thursday.

In the intraday trading, 207 companies lost in their market value, while only eight stood at the gaining side. The sensitive index that measures the performance of blue chip companies also fell by a significant 10.99 points.

All the 13 trading groups landed in red, marking a fall in their market prices. Life insurance posted the biggest fall of 357.13 points, while six companies lost three-digit points in their market indices.

Among individual companies, Himalayan Distillery Limited posted the largest transaction amount worth Rs 143.76 million. Ngadi Group Power Limited lost the highest percent of its market value, while Khaptad Laghubitta Bittiya Sanstha Limited was the topmost gainer.