NEPSE nosedives 59.02 points; daily turnover increases to Rs 5.66 billion

KATHMANDU, Sept 23: Nepal Stock Exchange (NEPSE) on Monday witnessed a landslide fall of 59.02 points to close at 2,529.33 points.

The secondary market that gained around 20 points in the pre-opening session went into a straight fall from the commencement of the main transaction for the day. The market hit the day’s low at 2,519.41 points before the last 20 minutes. It recovered around 10 points in the remaining time before it closed for the day. 

The sensitive index, which measures the performance of ‘A’ class companies, declined by 9.02 points. The daily turnover slightly increased to Rs 5.66 billion from Rs 5.09 billion on Sunday.

Among individual companies, only 14 were recorded as gainers whereas 229 were the losers.

All the 13 groups were the losers, with non-life insurance shedding the highest of 351.85 points. A total of eight groups lost three-digit points.

Nepal Finance Ltd had the largest turnover of its shares worth Rs 211.34 million. Four companies including Goodwill Finance Limited, Samriddhi Finance Company Limited, NIC Asia Flexi CAP Fund and Eastern Hydropower Limited were the biggest losers, with their market values falling by 10 percent. Himalayan Hydropower Limited gained 9.84 percent of its market value, the biggest of all.