KATHMANDU, May 17: Nepal Stock Exchange (Nepse) gained mere 1.01 percent to end at 416.37 points on Thursday as exuberance seen in the share market following late Tuesday´s political agreement was dampened by objections raised by various groups to the state restructuring model approved by major political parties.
The benchmark index had surged over five percent on Wednesday after major political parties struck a deal on system of governance and federalism.
The market had shown signs of giving continuity to previous day´s rally on Thursday when the benchmark index rose by three percent in the early trading and led the share market operator to halt trading for 15 minutes. But as soon as the trading resumed, the market started moving down as selling pressure superseded the buying pressure.
On Thursday, the biggest loser was Lumbini Bank which lost 10 percent of its share value to close at Rs 270. Nepal SBI Bank and stock market heavyweight Nepal Telecom were also in red as they shed 3.92 percent and 2.5 percent, respectively, to end at Rs 662 and Rs 507.
Other major losers were Ace Development Bank and Prime Life Insurance, whose share prices fell 5.45 percent and 4.72 percent, respectively, to close at Rs 156 and Rs 202.