Stocks plunge sharply as NEPSE drops over 100 points
Despite the sharp downturn, total daily turnover remained strong at Rs 12.38 billion, reflecting continued investor activity.
KATHMANDU: The stock market witnessed a steep decline on Sunday, with the Nepal Stock Exchange (NEPSE) index falling by 105.50 points to close at 2,676.68.
Despite the sharp downturn, total daily turnover remained strong at Rs 12.38 billion, reflecting continued investor activity. Market sentiment, however, was largely negative, with share prices of 261 companies declining, compared to gains in just seven.
Amid the broader slump, four companies stood out with positive circuit gains, offering rare relief to investors. These included Reliance Spinning Mills Limited, Bhujung Hydropower Limited, Ridge Line Energy Limited and Hotel Forest Inn Limited.
On the losing side, investors in Narayani Development Bank, Himalayan Reinsurance Company and Bhugol Energy Development Company suffered the heaviest losses, with their share prices dropping by 10 percent.
Trading activity was led by Himalayan Reinsurance Company, which recorded the highest turnover of the day at Rs 580 million. Its share price also fell sharply by 9.84 percent.
