Nepse tanks 30.56 points as monetary policy review fails to elate investors

Himal Press 13 Feb 2024
Nepse tanks 30.56 points as monetary policy review fails to elate investors

KATHMANDU: The Nepal Stock Exchange (Nepse) index posted a loss of 30.56 points on Tuesday as the mid-term review of the Monetary Policy for the fiscal year 2023/24 failed to elate investors. The benchmark index ended trading at 2,070.59 points.

In the midterm review, the central bank has kept most of the policies unchanged. Investors were hopeful that the central bank would come up with measures to address the falling profits of commercial banks, low demand for bank loans, and excess liquidity in the banking system. Their dissatisfaction was reflected on the bourse on Tuesday.

Share prices of only 40 companies advanced on the day, while 203 declined, and five remained unchanged. Despite the gloom, the share prices of three companies hit the positive circuit of 10% on the day. Himalayan Reinsurance Ltd logged the highest turnover of the day with shares worth Rs 325.05 million traded. Saonapur Minerals and Oil Ltd and Sanima Middle Tamor Hydropower Ltd were next with turnovers of Rs 119.64 million and Rs 100.64 million, respectively.

Among trading groups, all the sub-indices ended the session in the red. The biggest loss came from the Development Bank sub-index, which was down by 2.4%. Others and Finance sub-indices were next on the list with a loss of 2.27% and 2.2%, respectively.

Daily turnover, however, improved to Rs 4.65 billion on the day, up from Rs 3.56 billion recorded on Monday.

Published On: 13 Feb 2024


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