Nepse continues losing run

Wednesday - 28th October, 2015 | www.myrepublica.com | General News

Nepal Stock Exchange (Nepse) index shed a whopping 29.32 points to close at 1,091.73 points on Tuesday -- the first trading day after the Dashain holiday.

The market, which was on a freefall before the Dashain holiday, continued to take a dive as the situation in Tarai aggravates further and India continues its undeclared economic blockade.
"The market should have gone up at this time as many listed companies are holding their annual general meetings and distributing dividends. However, protest in Tarai districts and undeclared economic blockade by India has weakened investors' sentiment," a stock broker told Republica preferring anonymity. "Since stock market acts like the mirror for economy, the fall of benchmark index reflects the situation of our economy which has suffered due to the irresponsible Madhesi parties who care only about their communal interests."

Daily turnover figure shows that most of the investors are yet to return from the Dashain holiday. Securities worth Rs 207.2 million was traded on Tuesday compared to average daily turnover which hovers between Rs 500 and 600 million.

A total of 361,616 million units of shares of 83 companies were traded in the market on Tuesday through 1,423 transactions. All trading groups ended on the red zone on the day. Insurance was the biggest loser of the day with its sub-index going down by 90.7 points to close at 4,654.18 points. The sub-indices of Hydropower, Banking and Hotels were also down by 77.53 points, 35.92 points and 22.31 points, respectively. Similarly, Development Banks, Finance and Others sub-indices shed 16.75 points, 4.95 points and 7.05 points, respectively.