Nepse index dives by 6pc



The trading at the country’s sole secondary market was halted at 2:13pm and suspended for the rest of the day after the Nepal (Nepse) index slumped by six per cent or 123.34 points to 1,932.11 points today.

The last the market had observed a six per cent circuit breaker was on July 19. Back then, however, the benchmark index had surged by six per cent.

The sensitive Index that measures the performance of class ‘A’ stocks declined by 5.51 per cent or 21.62 points to 370.67 points.

The float index that gauges the performance of shares actually traded also fell by 5.48 per cent or 7.59 points to 130.82 points.

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A total of 15.49 million shares of 197 companies worth Rs 7.20 billion were traded through 61,858 transactions today.

Owing to immense selling pressure, all subgroups landed in the red today, with others subgroup plunging by 9.13 per cent or 164.09 points to 1,633.76 points. The sub-index of life dived by 8.26 per cent or 1,093.32 points to 11,565.88 points; manufacturing and processing dropped by 7.59 per cent or 362.41 points to 4,411.82 points; and trading fell by 7.42 per cent or 159.54 points to 1,991.78 points.

Meanwhile, sub-index of microfinance declined by 7.03 per cent or 224.19 points to 2,964.43 points; non-life insurance by 5.74 per cent or 569.25 points to 9,343.35 points; by five per cent or 86.61 points to 1,645.16 points; banking by 4.33 per cent or 64.9 points to 1,433.69 points; and hotels by four per cent or 81.99 points to 1,968.48 points.

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The sub-index of development banks descended by 3.44 per cent or 76.27 points to 2,143.10 points; that of finance by 2.18 per cent or 19.53 points to 875.87 points; and closed at 11.21 points, down 1.78 per cent or 0.2 point.

Nepal Reinsurance Co Ltd (NRIC) was the forerunner in terms of trading volume, number of

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