Himal Press 
KATHMANDU: Investors cold-shouldered the budget for the fiscal year 2023/24 as the Nepal Stock Exchange (Nepse) tanked 53.16 points to close at 1,888.61 on Tuesday – the first trading day after the government brought the budget for the new fiscal year.
The government brought a budget of Rs 1,751.31 billion for the upcoming fiscal year on Monday.
The market opened for trading on Tuesday with the benchmark Nepse index at 1,941.77 points. The market took a downward trajectory right after the trading began and continued its losing run throughout the session to eventually close 2.74% lower.
Share prices of only nine companies advanced on the day. Likewise, the share prices of 207 companies fell while the prices of three scrips remained unchanged.
Shivam Cement continued to be the most-traded stock of the day, with Rs 212.48 million worth of the company’s shares traded. Next on the list were Global IME Bank Limited Promoters Shares and Nepal Life Insurance Company Ltd with turnovers of Rs 101.10 million and Rs 80.45 million, respectively.
All the trading groups ended the day in the red, with the maximum loss coming from the Life Insurance sub-index, which fell by 3.5%. Following suit were the Microfinance Index and Others Index, which were down by 3.42% and 3.28%, respectively.
Shares worth Rs 2.34 billion of 275 scrips were traded on Tuesday through 7.07 million transactions.
