Nepse loses 38.83 points to close at 1,849.79 points; daily turnover hits Rs 2.315 billion on Wednesday

Published On: May 31, 2023 06:45 PM NPT By: Republica  | @RepublicaNepal

This was the second day fall after budget announcement, market lost over 91 points in two days

KATHMANDU, May 31: Nepal Stock Exchange (Nepse) on Wednesday plunged 38.83 points to close at 1,849.79 points.

The secondary market opened at 1,888.62 points and fell straight to 1,859.53 points in just six minutes after the trading started for the day. The market however inclined to the day’s high at 1,893.84 points in the next half an hour. In the remaining hours, the market went to the straight fall and lost around 44 points to close for the day.

In the two days after the budget announcement, the market lost around 91 points. According to stockbrokers, the investors are not satisfied by the revised tax rates on merger and follow-on public offerings that the government has introduced through the budget.  

In the intraday trading, 203 listed companies lost their market values and only 16 companies registered as gainers. The sensitive index that measures the performance of the blue chip companies also dropped a notable 7.28 points.

All the 13 trading groups lost in their market prices. Life insurance, non-life insurance, manufacturing and processing and hotels and tourism had their market index declined by three-digit points.

The daily turnover amount decreased marginally to Rs 2.315 billion from Rs 2.341 billion on Tuesday.

Among individual companies, Prabhu Bank Limited Promoter Share had the biggest transactions of its shares worth Rs 342.81 million. Unilever Nepal Limited was registered the biggest loser while Aatmanirbhar Laghubitta Bittiya Sanstha Limited was the topmost gainer.  

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