NEPSE index plunges by 70 points

By A Staff Reporter,Kathmandu, Mar. 6: The share market, which increased by 6 per cent on Monday, has fallen by 3.38 per cent on Tuesday itself. With the significant fluctuation, the NEPSE index has posted double-digit fall of 70.31 points and closed at 2,007.69 points.

The share market had closed for the third time in a row with a positive circuit breaker on Monday. The NEPSE index had increased by 117.70 points. However, the positive growth of NEPSE seen in the stock market on Monday due to the rumour of the formation of a new collation government was not sustained on Tuesday.

The sensitive index which measures the performance of group ‘A’ companies decreased by 11.97 points (3.24 per cent) to close at 357.30 points. On Monday, the sensitive index had increased by 19.54 points (5.58 per cent) to close at 369.27 points. Even though the NESPE index decreased significantly, the turnover increased significantly in today’s transaction as compared to the transaction of Monday.

On Tuesday, a total of 11,467,599 shares worth Rs. 4.11 billion of 316 companies were bought and sold in 69,208 transactions. A total of 934,919 shares worth Rs. 375 million had been traded on Monday. The sub-indices of all groups, except mutual funds, have decreased noticeably.

The sub-index of the life insurance group saw the highest fall of 363.12 points (3.49 per cent) followed by the manufacturing and processing and non-life insurance group whose indices decreased by 297.33 points (4.20 per cent) and 277.66 points (2.60 per cent) respectively.

The sub-index of hotels and tourism group decreased by 196.71 points, development bank by 147.79 points and hydropower by 113.29 points on Tuesday. Similarly, the other sub-index dropped by 77.30 points, trading by 61.27 points, finance by 50.55 points and microfinance by 45.54 points.

The sub-index of banking group has decreased by 33.62 points and investment group by 2.75 points. However, the sub-index of mutual funds has increased marginally by 0.11 points. In today's transactions, the share price of 229 companies decreased while the share prices of only 70 companies increased.

Share price of Bottlers Nepal (Balaju) Limited has decreased by 10 per cent while the share price of Joshi Hydropower Development Company decreased by 9.99 per cent, Bottlers Nepal (Terai) Limited by 9.45 per cent and Prabhu Insurance by 8.64 per cent.

However, the share price of Gurans Laghubitta Bittiya Sanstha has increased by 8.73 per cent, Global IME Balanced Fund-1 by 7.85 per cent and Mahila Lagubitta Bittiya Sanstha by 4.11 per cent.