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NEPSE Index Declines for Third Day

March 19, 2024
NEPSE Index

KATHMANDU, NEPAL – The Nepal Stock Exchange (NEPSE) index continued its downward trend on Tuesday, marking the third consecutive day of decline. The NEPSE lost 6.24 points, closing at 2067.29. Despite the decline, the Financial, Life Insurance, and Microfinance subgroups showed gains while all other subgroups declined.

A total of 9,478,933 shares were traded from 307 companies, with a total turnover of Rs. 3,633,936,554. The Production and Promotion group saw a 1.38% decrease, while the Trade group declined by 1.31%.

Market Highlights:

  • Buddhabhumi Hydropower Company Limited and Sarbottam Cement Limited experienced positive share price trends.
  • Dhaulagiri Microfinance Financial Institution Limited saw a 9.99% share price increase, and Infinity Microfinance Financial Institution Limited experienced a 9.45% increase.
  • Siddhartha Investment Growth Scheme-2 and Peoples Hydropower Company Limited faced share price declines of 7.08% and 6.91%, respectively.
  • Shivam Cement Limited topped the transaction volume, conducting business worth Rs. 259,722,367.
  • Laxmi Equity Fund had the highest number of shares traded (699,642 shares).

Outlook:

The continued decline of the NEPSE index may indicate a bearish trend in the market. However, the positive performance of specific financial and insurance stocks offers a glimmer of hope for investors. Market analysts will be closely watching the movements of key subgroups in the coming days for further indications of the market’s overall direction.

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