Stock Market Sinks 2.19% as Trading Resumes After Dashain Holidays

Nepal’s stock market, which reopened Tuesday, October 7, after the Dashain holidays, closed 2.19 percent, or 58.55 points, lower at 2,604.96.

On the last trading day before the holidays, the Nepal Stock Exchange (NEPSE) index had gained 0.43 percent. During Tuesday’s session, the index climbed as high as 2,664.99 points and dipped to a low of 2,596.04 points.

Only 16 listed companies traded on the day advanced, while 235 saw their share prices decline. Everest Bank’s share price remained unchanged.

Despite the market-wide drop, the Century Debenture 2088 (CCBD88) rose 10 percent to Rs 1,254 per unit. The NIC Asia Rinpatra 2088 (NICD88) gained 9.11 percent, while the Standard Chartered Bank Limited 10.30% Debenture (SCBD) climbed 9.06 percent.

The biggest loser of the day was Bhugol Energy Development Company Limited (BEDC), whose share price plunged 9.99 percent, or Rs 71.40 per unit, to close at Rs 643.50.

Market turnover surged to Rs 4.62 billion on Tuesday, up from Rs 2.93 billion on the previous trading day. Union Hydropower Limited (UNHPL) topped the turnover chart with over Rs 2.83 billion worth of shares traded. Its share price rose 2.42 percent to Rs 508 per unit.

All sectoral sub-indices ended in negative territory, with the Others index recording the steepest decline of 4.83 percent.

Investors collectively lost more than Rs 97.88 billion in market capitalisation, which fell to Rs 4,354.8 billion from Rs 4,452.68 billion in the previous session.