NEPSE surge dips by 32 points

By A Staff Reporter,Kathmandu, Mar. 11: The stock market, which was closed for the entire day on Monday due to three consecutive positive circuit breaks, saw a sharp decline on Tuesday.

The benchmark share market index, NEPSE, posted a double-digit fall of 32.08 points (1.11 per cent) and closed at 2,843.35 points.

On the first trading day after the election on Monday, the NEPSE rose by 6 per cent, triggering the third circuit breaker, after which share trading was closed for the rest of the day.

The NEPSE index had surged by 162.93 points to close at 2,875.44 points.

According to the Nepal Stock Exchange, the sensitive index, which measures the performance of group ‘A’ companies, also decreased by 4.40 points (0.89 per cent) to close at 489.69 points.

On Monday, the sensitive index had increased by 28.11 points (6.03 per cent) to close at 494.10 points.

Although the NEPSE index fell, transactions increased significantly in Tuesday’s trading.

A total of 52,711,353 shares worth Rs. 21.50 billion from 329 companies were traded in 205,611 transactions on Tuesday.

On Sunday, a total of 1,143,767 shares worth Rs. 549 million from 261 companies were traded in 4,051 transactions.

According to NEPSE, the sub-indices of all groups, except non-life insurance, life insurance, and mutual funds, decreased in Tuesday’s trading.

The sub-index of the manufacturing and processing group posted the highest fall of 167.86 points, followed by the hotels and tourism group and the trading group, whose indices decreased by 144.83 points and 83.66 points respectively.

Similarly, the sub-index of development banks dropped by 71.56 points, hydropower by 55.74 points, finance by 55.13 points, others by 35.54 points, banking by 19.12 points, microfinance by 9.41 points, and investment by 1.80 points.

However, the sub-index of the life insurance group increased by 70.46 points, non-life insurance by 55.77 points, and mutual funds by 0.28 points.

The share prices of 118 companies increased, while the share prices of 201 companies declined in Tuesday’s trading.

On Monday, the share prices of 257 companies increased, while the share price of only one company declined.

Share prices of Reliance Spinning Mills increased by 10 per cent while the share price of Salapa Bikas Bank increased by 9.99 points.

On Sunday, the share price of Reliance Spinning Mills had decreased by 10.20 per cent.

Similarly, share price of Three Star Hydropower increased by 9.08 per cent, Kalika Power Company by 8.87 per cent and Life Insurance Corporation (Nepal) by 5.42 per cent.

However, share price of Him Star Urja Company decreased by 6.36 per cent, Miteri Development Bank by 5.87 per cent and Mailung Khola Jal Vidhyut Company by 5.74 per cent.