KATHMANDU, April 1: Nepal’s stock market dropped sharply on Wednesday, with the NEPSE index falling by 74.73 points to close at 2,776.36 points.
All sectoral indices declined during the trading session, with the ‘Others’ subgroup recording the steepest fall of 5.26 percent. The market remained in a downward trend throughout the day, briefly dipping to 2,762 points around 2:30 pm.
Daily Commentary: Nepse triggers positive circuit breaker for a...
Share prices of 225 companies declined during the session. Nepal Reinsurance Company saw the largest drop, with its share price falling 9.84 percent.
The total daily turnover reached Rs 12.10 billion. Shares of Himalayan Reinsurance recorded the highest transaction value at Rs 713.1 million, followed by API Power Company with Rs 457.2 million and Ngadi Group Power Limited with Rs 432.3 million in transactions.
Despite the broader market decline, 13 companies posted gains, while six companies hit the positive circuit limit. These included Reliance Spinning Mills, Super Khudi Hydropower, Bhujung Hydropower, Ridge Line Energy, Surya Kunda Hydropower, and Hotel Forest Inn.
The Nepse had risen by 19.70 points on Tuesday after two consecutive days of decline following the formation of the new government. However, since the new government took office on March 27, the index has already fallen by 174 points.
_20240311121839.jpg)
