KATHMANDU, Jan 26: Nepal Stock Exchange (Nepse) plunged by double-digit points and closed below 2,800 points on Wednesday.

This is the fourth consecutive day that the country’s secondary market has been following the downward trend in stocks trading, largely blamed on the government's indecisiveness for holding elections of local governments on time. 

The crunch in loanable funds with banks is among other factors that has been hitting the transaction in the secondary market. According to Nepse, the index dropped 38.42 points in intraday trading. The entire 13 sub-groups landed in red.

A drop in investors’ confidence has also taken a toll on the transaction amount in the secondary market. On Wednesday trading, the transaction amount stood at mere Rs 3.92 billion, less than half of the amount of Monday trading.

Buddhabhumi Nepal Hydropower Company was the top gainer among the individual companies. Pokhara Finance Limited, which witnessed a drop of 5.59 percent in its share price, was the topmost loser. 

 
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