Nepse index plunges 17.47 points
Kathmandu, December 2
Due to various technical glitches and lack of liquidity for investment in the secondary market, the Nepal Stock Exchange (Nepse) has continued with its bearish trend. The Nepse index plunged by 1.52 per cent or 17.47 points to land at 1,130.89 points today — the first trading day of the week.
“The failure by the Nepse leadership to address the problems related to online trading is the major reason for this downward trend in the market,” said a broker seeking anonymity. Stock brokers and investors have been continuously mentioning that if the problem persists then the trading volume will remain low, hitting the benchmark index, which has been on a freefall for the last several weeks.
Similar to the benchmark index, the sensitive index, which measures the performance of class ‘A’ stocks, also went down by 1.56 per cent or 3.82 points to 240.33 points. The float index that measures the performance of shares actually traded too shed 1.58 per cent or 1.32 points to rest at 82.02 points for the day.
Similarly, among the 11 sub-indices in the market, 10 subgroups landed in the red zone today. Only the trading subgroup witnessed gains rising by 1.25 per cent or 2.96 points to 240.31 points.
Meanwhile, non-life insurance was the leader among the losers today and went down by 2.72 per cent or 139.41 points to land at 4,991.85 points. It was followed by the micro finance subgroup that closed down by 2.21 per cent or 29.02 points to rest at 1,281.75 points.
Likewise, the life insurance sub-index decreased by 2.06 per cent or 105.67 points to 5,029.96 points. The hotels subgroup meanwhile descended by 1.86 per cent or 33.26 points to 1,754.20 points and the banking sub-index too fell by 1.49 per cent or 15.06 points to land at 993.87 points.
Additionally, the hydropower sub-index shrunk by 1.42 per cent or 16.85 points to rest at 1,168.47 points.
Meanwhile, others subgroup shed 1.06 per cent or 7.33 points to 724.7 points and finance sub-index too was down by 0.85 per cent or 5.07 points to 690.84 points. Moreover, the development bank subgroup dipped by 0.81 per cent or 11.65 points to 1,433.47 points and manufacturing also shed 0.12 per cent or 2.73 points to land at 2,245.05 points for the day.