NEPSE Plunges 21.19 Points a Day After Near 50-Point Rally
The Nepal Stock Exchange (NEPSE) fell 21.19 points on Wednesday, erasing part of the previous day's 48.57-point gain that followed the government's market recovery plan. Turnover dropped to Rs 5.38 billion from Rs 8.29 billion, with the Hydropower sector posting the steepest decline.
KATHMANDU, Sept 16 — The Nepal Stock Exchange (NEPSE) failed to hold on to investor confidence on Wednesday, tumbling by a double-digit 21.19 points.
The secondary market had surged by a hefty 48.57 points on Tuesday after the government unveiled a recovery plan for the country's stock market. That optimism proved short-lived, with the index closing the next session at 2,612.2 points.
Trading activity also cooled sharply. Daily turnover fell to Rs 5.38 billion from Rs 8.29 billion a day earlier. On a sector basis, the Hydropower group posted the steepest drop, sliding 1.04 percent.
Market breadth was decisively negative:
- 43 companies advanced
- 224 companies declined
- 12 companies closed unchanged
Among individual movers, Narayani Development Bank posted the biggest gain, with its share price climbing 6.37 percent. Himal Dolakha Hydropower followed, rising 5.31 percent.
On the losing side, NMB Hybrid Fund L-2 recorded the sharpest fall, with its unit price dropping 7.73 percent, while Ridge Line Energy slipped 5.21 percent.
Himal Dolakha Hydropower also topped the turnover chart, with shares worth Rs 379.5 million changing hands during the session.