Kathmandu, August 24
Nepal’s stock market fell below the 2,600-point mark on Monday, with the Nepal Stock Exchange (NEPSE) index dropping 19.13 points to close at 2,599 points.
The market had declined by 10.67 points in the previous session, when turnover stood at around Rs 4.16 billion. On Monday, total turnover fell to Rs 3.23 billion.
The decline was broad-based, with 229 companies recording losses, while 47 gained and two remained unchanged.
All sectoral indices closed lower. The hydropower index recorded the steepest decline, falling 1.19 percent, followed by non-life insurance, which dropped 1.12 percent.
The banking sector fell 0.67 percent, development banks 0.47 percent, finance 0.80 percent, hotels and tourism 0.01 percent, investment 0.41 percent, life insurance 0.81 percent, manufacturing and processing 0.46 percent, microfinance 0.53 percent, others 0.78 percent and trading 0.50 percent.
As usual, hydropower companies accounted for the largest share of trading activity, with the sector recording turnover of around Rs 1.68 billion.
Manufacturing and processing companies recorded turnover of around Rs 320 million, while commercial banks accounted for around Rs 300 million.
The latest decline extends the recent weakness in the market. NEPSE had closed at 2,618.72 points on Friday after falling 10.67 points, and the index had already lost 25.11 points over the previous trading week.
