Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU. The Nepal Stock Exchange (NEPSE) index declined sharply by 74.73 points on Wednesday, settling at 2,776.36 points.
The fall comes amid growing market sensitivity following government signals of stricter monitoring against black money and unauthorized transactions in the securities market.
All sectoral indices closed in the red, with the “Others” subgroup recording the steepest decline of 5.26 percent. The market remained in negative territory throughout the trading session, slipping further to 2,762 points by around 2:30 PM.
A total of 225 listed companies saw their share prices decline. Nepal Reinsurance Company suffered the biggest drop, falling by 9.84 percent.
Despite the downturn, total turnover reached Rs 12.10 billion. Himalayan Reinsurance recorded the highest trading volume at Rs 7.13 billion, followed by Api Power at Rs 4.57 billion and Ngadi Group Power at Rs 4.32 billion.
Out of the traded stocks, 13 companies posted gains, while six companies hit positive circuit limits. These included Reliance Spinning Mills, Super Khudi Hydropower, Bhujung Hydropower, Reezline Energy, Suryakunda Hydropower, and Hotel Forest Inn.
The market had gained 19.70 points on Tuesday after two consecutive days of decline following the formation of the new government. Since the government change on Chait 13, NEPSE has already fallen by 174 points.
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