As the political parties are trying to form a new government, the share market has been losing its steam. The Nepal Stock Exchange (Nepse) index today plunged by 31.97 points and closed at closed at 1,885.31 points from the morning’s opening 1,917.28 points.
The market witnessed a fall throughout the trading period as the investors failed to gain confidence.
on one hand the private sector is protesting against the high interest rates and on the other, there is only four days remained to end the second quarter. On top of that the squeeze in demand has hit the economy hard pulling the investors confidence down.
Thus, the daily turnover at the share market came down to Rs 1.103 billion, which was some Rs 1.65 billion on Wednesday, the last trading day of the last week, due to public holiday on Thursday.
A total of 180 companies lost in their share market value while 25 companies gained in the intraday-trading.
The sensitive index – key measure of the performance of blue chips shares – also fell by 6.28 points today as almost all the 13 sub-indices declined, with non-life insurance sub index losing the most, by 98.40 points, today.
Likewise, Shivam Cement posted the largest transaction of its shares worth Rs 109.36 million, whereas Nadep Laghubitta was the top loser and CYC Nepal Laghubitta gained the highest, today.
The looming political instability, lack of government seriousness in tackling economy, and loanable fund crunch in the banks and financial institutions also hit the share market hard.
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