Nepal | September 29, 2020

Benchmark index slides 3.34pc

Himalayan News Service
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Kathmandu, September 22

The benchmark stock index slipped 3.34 per cent today, as political parties failed to subside the unrest in the Tarai and rumours about Indian economic blockade on Nepal spread like wildfire.

Nepal Stock Exchange (Nepse) index, which opened at 1,196.02 points after three days of public holidays, shed 39.94 points to close at 1,156.08 points.

“The stock market has been on a correction mode since it reached the all-time high of 1,205.84 points last Tuesday,” said leading stock investor Nirmal Pradhan. “But today’s fall was also fuelled by the unrest in Tarai and rumours about Indian economic blockade.”

The biggest losers today were banks and financial institutions, with Jyoti Bikas Bank leading the way. Stock price of the development bank fell 6.98 per cent to close at Rs 200.

Similarly, stock of Nirdhan Utthan Bank shed 5.74 per cent of its value to end the day at Rs 1,740. Share price of Biratlaxmi Bikas Bank also dropped by 5.58 per cent to close at Rs 406.

Among others, promoter share of Nabil Bank lost 4.77 per cent of its value to close at Rs 1,876, while share price of Kumari Bank fell 4.26 per cent to end the day at Rs 450.

A version of this article appears in print on September 23, 2015 of The Himalayan Times.

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