The Nepal Stock Exchange (NEPSE) experienced a notable downturn on Thursday, shedding 30.92 points or 1.47%, settling at 2,067.01 points after days of steady gains this week that had propelled it beyond the 2,100 mark. This decline marks the second consecutive drop, following a 21.67 point decrease on Wednesday.
The sensitive index, gauging class ‘A’ stocks, slid by 1.24%, while the float index, reflecting actively traded shares, saw a 1.45% dip. Across various sectors, Thursday witnessed a widespread decline, except for the Finance index, which managed a modest 0.21% uptick. The hydropower sector took the biggest hit, dropping by 2.35%, closely followed by the Others index with a 2% drop.
Despite the market’s turbulence, Himalayan Reinsurance Limited (HRL) maintained its dominance in turnover, volume, and transactions, with 769,799 units of shares traded for Rs 540,184,186.50 across 11,344 transactions.
The downturn also affected the daily turnover, plummeting sharply to just Rs 4.180 billion, compared to Wednesday’s Rs 5.295 billion, with 11,514,571 units of shares from 309 companies traded in 80,029 transactions.
Market analysts are closely monitoring the situation, attributing the recent declines to a combination of global economic uncertainties and profit-taking activities. Investors are advised to stay vigilant and diversify their portfolios in response to the evolving market conditions.
01st Feb 2024
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