NEPSE Index Drops 1.03%

The Nepal Stock Exchange (NEPSE) index declined by 27.89 points, or 1.03%, on Wednesday, September 24, closing at 2,654.35. This followed a steeper 2.23% drop on Tuesday.

The market has remained volatile since last week’s political upheaval. After plunging nearly 6% on Thursday, September 18, the index staged a strong rebound on Sunday, September 21, surging 4.44%. The stock market was closed on Monday for Ghatasthapana, the first day of Dashain.

The turbulence stems from Gen Z–led protests on September 8–9 that brought down the KP Oli government. Trading was suspended until September 17 due to fears of instability during the unrest. Upon reopening, the index tumbled 160.33 points in a single session.

The daily turnover on Wednesday also weakened, slipping to Rs 4.12 billion from Tuesday’s Rs 5.29 billion.

A total of 9,408,663 shares changed hands through 47,852 transactions.

All major sub-indices closed lower: the Sensitive Index dropped 1.07%, the Float Index slumped 1.06%, and the Sensitive Float Index also shed 1.11%.

Out of 251 listed companies, 53 advanced, 193 declined, and 5 remained unchanged. 

Mathillo Mailun Khola Jalvidhyut Limited (MMKJL) and City Hotel Limited (CITY) hit the upper circuit limit, while Unnati Sahakarya Laghubitta Bittiya Sanstha Limited (USLB) suffered the steepest loss, sliding 5.38%.

Union Hydropower Limited (UNHPL) topped the turnover chart at Rs 221.38 million, followed by Nepal Reinsurance Company Limited (NRIC) at Rs 173.25 million and Himalayan Reinsurance Limited (HRL) at Rs 133.75 million.

Among 13 sectoral indices, only two ended in the green: Hotels & Tourism rose 0.85% and Mutual Fund edged up 0.04%. The Others Index recorded the sharpest fall of 2.16%.

Overall market capitalization slipped to Rs 4,437.38 billion from Tuesday’s Rs 4,484.01 billion.