NEPSE Index Plummets by Double Digits on First Trading Day of the Week

On the opening trading day of the week, Nepal’s stock market, represented by the Nepal Stock Exchange (NEPSE), experienced a substantial decline, with the index plunging by double digits.

The NEPSE index took a significant hit, dropping by 42.14 points to reach 1,964.91 points.

This downturn affected shares across various sectors, most notably in areas such as hotels, hydropower, insurance, manufacturing, and trade, which experienced particularly alarming declines.

Notably, Molung Hydropower Company saw the most substantial decrease, with its shares falling by over nine percent. Additionally, shares of Menchiam Hydropower Company and Bungol Energy Company both registered decreases of more than eight percent. On the brighter side, Shubham Power Company’s shares managed to buck the trend, showing a remarkable increase of 10 percent.

Despite the market’s decline, trading activity was notably higher on this particular Sunday. A total of 5,659,000 shares from 278 different companies were actively traded. These transactions, conducted in 72,400 trades, accounted for a trading volume exceeding 2.2 billion rupees.

In terms of transaction records, NIC Asia Bank and Reliable Life Insurance Company stood out, with the highest number of shares changing hands. NIC Asia Bank recorded transactions worth Rs 275.4 million, while Reliable Nepal Life Insurance witnessed transactions totaling Rs 245.2 million.