Nepse fails to maintain past two-day charm for investors, loses 15.5 points on Wednesday

Published On: February 23, 2022 05:15 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Feb 23: Nepal Stock Exchange (Nepse) on Wednesday declined by 15.5 points due to a fall in prices of the blue chips companies.

The secondary market was on an upward graph for the past two days mainly due to a rise in share prices of hydropower companies following the government’s move to table the US-funded Millenium Challenge Corporation (MCC) compact agreement in parliament for ratification. Although the hydropower group’s index rose by 35.66 points on Wednesday too, it could not back up the overall index due to a fall in average prices of shares of the remaining groups.

In the intraday trading, nine out of 10 top gainers were the hydropower companies. Dibyashwari Hydropower Company topped the gainers’ list.

United Idi-Mardi RB Hydropower Limited, Ghalemi Hydro Limited, Terhathum Power Company, Ru Ru Jalbidhyut Pariyojana Limited, Samling Power Company, Terhathum Power Company, Madhya Bhotekoshi Jalavidyut Company, Buddha Bhumi Nepal Hydropower Company and Mailung Khola Jal Vidhyut Company were among the highest gainers with a notable rise in their shares prices.

The market that opened at 2,735.93 points rose as high as 2,747.14 points, finally closing at 2,720.43 points on Wednesday trading. The sensitive index dropped by 5.22 points.

Except for hydropower and mutual funds, the remaining 11 groups witnessed a drop in their average share prices. The total turnover amount also dropped to Rs 3.13 billion from Rs 3.21 billion on Tuesday. Nepal Doorsanchar Company Limited, which has been attracting investors for the past few days, witnessed the largest transaction volume of Rs 193.78 million. 

Leave A Comment