KATHMANDU, Aug 21: Nepal Stock Exchange (Nepse) on Monday dipped 12.93 points to close at 1,998.28 points.

The secondary market opened at 2,011.22 points and dropped around seven points in the first 11 minutes of the trading. The market index in the next one and a half hours escalated to the day’s high at 2,019.44 points. However, the market in the remaining trading hours witnessed a successive downswing to hit the day’s low at 1,992.25 points, before it recovered around six points to close for the day.

According to stockbrokers, the market started to fall in the bear trend since Nepal Rastra Bank launched monetary policy for the next fiscal year. In addition, banks announcing to raise their interest rates have also affected the investors’ sentiments adversely.

The sensitive index that measures the performance of blue chip companies also fell 1.50 points. The daily turnover also appeared poor, with the amount posting mere Rs 1.408 billion, down from Rs 1.447 billion. 

All the 13 trading groups lost their market values. Life insurance shed 84.24 points, which was followed by manufacturing and processing with a decline of 56.77 points in their index.   

Among individual companies, the market values of 171 companies declined. On the other hand, 49 companies were registered gainers.

Shivam Cements, with turnover of Rs 80.247 million, topped in terms of transaction volume. While Menchhiyam Hydropower Limited lost the highest of 7.99 percent, Laxmi Laghubitta Bittiya Sanstha Limited added 10 percent in its market price and topped the gainers’ list.

 
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