KATHMANDU, Sept 17: Nepal Stock Exchange (Nepse) on Sunday hit a landslide of 42.14 points to close at 1,964.91 points.

The secondary market opened at 2,007.06 points and went to the straight fall throughout the trading hours. As a result the index shed 2.09 point percent. According to stockbrokers, the market was hit by a number of banks raising their interest rates.   

Nepal’s stock exchange market had been reeling under the bearish trend for the past few weeks. It was the first time in the past three months that the market crossed 2,000 points last week.

The market gained 74.61 points on average last week. However, it could not maintain its charm for the investors on the first day of this week.  

The sensitive index that measures the performance of blue chip companies also plunged 8.12 points. But the daily turnover escalated to Rs 2.028 billion from Rs 1.495 billion on Wednesday, the last trading day. 

All the 13 trading groups had their market value declined in the intraday trading. Life insurance dipped 277.95 points, followed by non-life insurance, hotels and trading that registered among the losers of three-digit points. 

Among individual companies, the market values of 213 companies lost their market values, while 11 companies posted gain in their indices.

NIC Asia Bank, with turnover of Rs 275.47 million, topped in terms of transaction volume. With a drop of 9.21 percent, Molung Hydropower Company Limited was the biggest loser. Similarly, Shuvam Power Limited gained 10 percent in its market value.  

 
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