Nepse landslides 26.85 points, falls below 1,900 points in the past three months

Published On: March 26, 2023 06:36 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, March 26: Nepal Stock Exchange (Nepse) on Sunday took a nosedive by 26.85 points to fall below 1,900 points.

The secondary market opened at 1,915.14 points and fell straight to 1,894.51 points in the first half an hour of the trading period. In the next one hour, the market fluctuated by 10 points. The market stood stable in the next two hours. However, it slid by six points to close for the day.

It was the first time in the past three months that the market has plunged below 1,900 marks. Last time the market stood at 1,867.21 points was on December 22.

In the past few months, the market has been hit constantly by high rates of interest amid liquidity crisis in the banking system and political conditions. The stockbrokers said that the dilly-dallying in the appointment of finance minister has taken down the confidence of the investors in recent days.

In the intraday trading, 193 listed companies lost in their market value, while only 19 companies registered as gainers. The sensitive index that measures the performance of blue chip companies also fell by a notable 5.02 points.

All the 13 trading groups lost in their market values. Microfinance lost the highest of 133.91 points. Daily turnover stood at a mere Rs 1.28 billion.   

Among individual companies, Himalayan Distillery Limited was registered on the top list of the single day transaction, with trading of its shares worth Rs 86.28 million. Jeevan Bikas Laghubitta Bittiya Sanstha Limited was the topmost loser, while Maya Khola Hydropower Company Limited gained the highest percent of its market price. 

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