Nepse suffers double-digit fall for 2nd consecutive day
KATHMANDU, May 30: Nepal Stock Exchange (Nepse) suffered a double-digit loss for the second consecutive day, shedding 18.69 points or 4.77 points to close at 373.2 points on Wednesday. The sharp drop in index prompted Nepse officials to impose a brief suspension on trading.
The benchmark Nepse plunged 20.98 points to end at 391.89 points on Tuesday.
As per the existing provision, Nepse can announce a circuit break- a temporary halt in transactions- if the trading amount fluctuates by over 4 percent of previous closing amount.
Total market capitalization also decreased to Rs 352.43 billion from Rs 370.08 billion recorded on Tuesday.
However, total turnover and number of share traded increased to Rs 36.90 million and 96,452 units in Wednesday´s trading from Rs 8.44 million and 43,311 units on Tuesday. Number of transactions also increased to 1,421 from 647 a day earlier .
In Wednesday´s trading, all trading groups excepts Hotel witnessed a drop in their sub-indices with Hydropower becoming the biggest loser.
The heavyweight Banking and Hydropower group suffered a tumble in their indices by 26.68 points and 37.93 points respectively. Sub-indices of Insurance and Others groups also declined by 4.86 points and 15.27 points to settle at 485.98 points and 514.63 points respectively.
Similarly, Development Bank and Finance groups also shed marginally by 1.8 points and 0.23 points to end 267.46 points and 271.17 points respectively.