KATHMANDU, Aug 26: Nepal Stock Exchange (NEPSE) on Wednesday nosedived 35.92 points, with hydropower and non-life insurance being major losers over the massive floods in Rasuwa district that hit a large number of hydropower plants.
Among 13 sectors, the non-life insurance and hydropower groups declined by a whopping 404.05 points and 104.33 points, respectively. According to stockbrokers, the massive loss in hydropower plants that could increase the liabilities of the non-life insurers have taken down the market values of these groups.
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Likewise, life insurance also lost the notable 175.13 points on Wednesday trade. Overall, 13 groups posted losses in their market values. The daily turnover amount however inclined to Rs 4.77 billion.
Among individual companies, a total of 252 companies were the losers, as 23 gained while three remained stable. Chilime Hydropower Company had the largest transactions of Rs 205.68 million.
Rasuwagadhi Hydropower Company was the topmost loser of 15 percent. Sarvottam Paints Industries Limited gained the highest percent among gainers.
