KATHMANDU, Feb 8: Nepal Stock Exchange (Nepse) on Tuesday fell 16.3 points despite the investors’ expectation that the government announcement of the date for local elections would take the share market in an upward graph.
The secondary market that opened at 2,851.88 points gained 69.3 points to hit 2,921.18 points within the first five minutes of the commencement of trading. However, the market went into a freefall thereafter, finally closing at 2,835.58 points.
Nepse stretches winning run with record weekly turnover
Nine out of 13 groups lost in their share value on an average. Non-life insurance gained the largest of 56.22 points while manufacturing, hotels and tourism and trading were among the gainers.
According to the stockbrokers, the market witnessed a downfall after the investors’ rush to book profit following a sudden rise in share prices. On Monday, too, the market had increased by 15.71 points due to the fixation of date for the local elections scheduled on May 13.
Arun Valley Hydropower Development Company, Api Power Company and Nepal Infrastructure Bank Limited posted the largest turnover amounts. The shares of these companies have been constantly attracting investors for the past few days.
The total transaction volume increased to Rs 6.28 billion from 5.02 billion. Regarding individual companies, Everest Insurance Company Limited Promoter Share was the top gainer while Liberty Energy Company Limited was the top loser.
