KATHMANDU, May 17: Nepal Stock Exchange (Nepse) nosedived by 84.9 points to fall below 2,300 points on Tuesday, the first day transaction after the polls to elect the local governments concluded on Friday.
The market opened at 2,350.42 points and went to a straight fall throughout the trading hours to close finally at 2,265.52 points. Overall, the index dropped by 3.61 percent.
Tuesday’s transaction came as a shock to investors who were highly encouraged by last week’s gain of 111.8 points after over a month. Along with a heavy decline in the market index, the daily turnover amount also dropped to Rs 1.64 billion from Rs 2.32 billion last Thursday.
The entire 13 trading groups landed in the red while the life-insurance group lost the highest of 592.59 points. The sensitive index that measures the performance of ‘A’ class shares also dropped 15.28 points and closed at 438.68 points.
Jalpa Samudayik Laghubitta Bittiya Sanstha had the largest transaction of its shares worth Rs 97.90 million. Lumbini General Insurance Limited was the biggest loser while Samudayik Laghubitta Bittiya Sanstha Limited gained the highest percent rise in its share prices.