Nepal Stock market drops below 2100 points

Golden Shrestha Published June 16, 2024

On the first trading day of the week, the Nepal Stock Exchange (NEPSE) index fell below 2100 points. Compared to the last trading day, the NEPSE index dropped by 17.04 points, settling at 2095 points. The total trading volume was Rs 5.47 billion. During the day's trading, 64 companies saw an increase in their stock prices, 117 companies experienced a decrease, and 6 companies remained unchanged. The only sector that saw an increase was the hotel and tourism sector with a 2.3 point change, while other sectors declined: banking by 9 points, development banks by 49 points, finance by 17 points, hydropower by 6 points, life insurance by 37 points, manufacturing by 62 points, microfinance by 80 points, non-life insurance by 68 points, other sectors by 18 points, and the trading sector by 2 points.

Nepal Finance and Manakamana Smart Microfinance saw an increase of 10%, Shivashree Hydropower was up by 8.1%, Kutheli Bukhari Small Hydropower by 7.3%, Divyashwori Hydro by 6.7%, and Union Hydropower by 4.4%. Conversely, Bhagawati Hydropower saw a 10% drop, followed by Samriddhi Finance with a 6.1% drop, Global IME Microfinance with a 5.4% drop, and Muktinath Agriculture Company with a 5.1% drop. In conclusion, the first trading day of the week on the Nepal Stock Exchange (NEPSE) saw a significant decline, with the index dropping below 2100 points and accompanied by a total turnover of Rs 5.47 billion. Despite the overall market decline, which saw 117 companies' stock prices decrease and only 64 increase, specific companies like Nepal Finance and Manakamana Smart Microfinance witnessed gains while others like Bhagawati Hydropower faced substantial losses. Additionally, there was an increase in trading volume for some companies including Nepal Finance, NRN Infrastructure, Ngadi Group, CEDB Hydropower, and Samriddhi Finance.

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