Nepse extends losses into second day

KATHMANDU: The Nepal Stock Exchange (Nepse) extended its losses for the second day on Tuesday, losing 36.19 points to close at 2,164.31 points.

The benchmark index recorded a gain of 63.24 points on Sunday, following the unveiling of the Monetary Policy for Fiscal Year 2023/24 by the Nepal Rastra Bank (NRB). However, the index has now wiped out all those gains over the past two days. The Nepse index lost 26.66 points on Monday.

The market started trading with the Nepse index at 2,202.99 points. After posting some nominal gains in the first few minutes of trading, the benchmark index started to lose value. Although the index made recovery attempts, it eventually ended the day 1.64% lower.

Except for the Hotels & Tourism sub-index, which was up by 1.22%, all other trading groups experienced losses. The Banking sector, the heavyweight trading group on the bourse, posted the highest loss of 2.75%, followed by the Development Bank and Finance sub-indices, which declined by 2.08% and 1.87%, respectively.

Soaltee Hotel Limited saw the highest turnover of the day with shares worth Rs 152.78 billion traded. Next on the list were Shivam Cement and Global IME Bank Ltd with turnovers of Rs 103.95 million and Rs 78.28 million, respectively.

Share prices of only 32 scrips increased on the day, while 176 declined, and nine remained unchanged.

The daily turnover fell to Rs 2.85 billion on Tuesday, down from Rs 4.62 billion on Monday. The total market capitalization reached Rs 3.18 trillion.