Rs 177.82 billion wiped out as Nepse tanks 3.86%

KATHMANDU: Nepal Stock Exchange (Nepse) registered a triple-digit loss on the second trading day of the week to close trading 111.96 points lower at 2,782.60 points on Tuesday.

Heavy drop in share prices of commercial banks, development banks and finance companies brought the Nepse index down.

Nepse index also logged a loss of 79.88 points on Sunday. A total of Rs 177.82 billion was wiped out from the market on Tuesday.

Stock analysts say the market is seeing a decline as short-term investors are booking their profits.

Share prices of 223 companies declined on the day, while 20 advanced and one remained unchanged. Himalayan Reinsurance Ltd logged the highest turnover of the session with shares worth Rs 654.20 million traded. Next were Api Power Company and Arun Valley Hydropower Company Ltd with turnovers of Rs 517.55 million and Rs 456.35 million, respectively.

Except for the Hotels & Tourism sub-index, which posted a nominal gain of 0.43 points, all trading groups ended the session in the red. The biggest loss came from the Banking sub-index which was down by 4.92%. Next were Finance and Development Bank with losses of 4.69% and 4.18%, respectively.

Securities worth Rs 18.64 billion were traded on the bourse through 234,360 transactions on Tuesday.