NEPSE corrects with a decline of 8.18 points; daily turnover falls to 21.51 billion

KATHMANDU, Aug 13: Nepal Stock Exchange (NEPSE) on Tuesday corrected with a decrease of 8.18 points after investors rushed to book profits out of the surge in share prices in the past few days.

The secondary market opened at 2,931.65 points and jumped to the day’s high at 2,971.7 points in the first two minutes. The index however went to a successive downfall and hit the day’s low at 2,892.88 points in the next one and a half hours. The market recovered around 31 points in the remaining trading hours before it closed for the day.  

The sensitive index, which measures the performance of ‘A’ class companies, declined 1.32 points. The daily turnover decreased to Rs 21.51 billion from the record high amount of Rs 27.24 billion on Monday

Among individual companies, 80 recorded gains whereas 157 were the losers.

Five out of the 13 groups were registered as gainers, with life insurance posting the largest gain of 79.73 points. Of the losers, hotels and tourism index shed the biggest of 173.95 points.

Nepal Finance Ltd had the largest turnover of its shares worth Rs 819.94 million. The company was also recorded as the highest losers shedding 9.93 percent of its share value. Matribhumi Laghubitta Bittiya Sanstha Limited was the topmost gainer.