Almost 70% of last week’s gain wiped off in two trading days; NEPSE falls below 1500 points after hitting the negative circuit today

The market was initially halted for 40 mins as it lost 5% before 1 PM; after resuming trade, the loss was quickly extended to 6% in less than 4 minutes after which the trading for rest of the day was suspended from 1:29 PM. The benchmark index lost massive 96.06 points and closed at 1495.30 points today. Within two trading days, the market has lost a total of 136.87 points, wiping off 69.27% of last week’s gain. The turnover stood at Rs.2.15 Arba which was achieved through trade of 4,986,544 units of shares traded through 19,007 transactions trading scrips of 173 listed companies in the process.

Nepal Life Insurance Company Limited (NLIC) posted the highest turnover of Rs.15.68 Crore with LTP at Rs.1279 per share. Prabhu Bank Limited (PRVU) stood ahead in terms of volume with trade of 268,917 units of shares. The LTP of the stock stood at Rs.264 per share.

NIC Asia Balance Fund (NICBF), Khani Khola Hydropower (KKHC) and Shree Investment and Finance Company (SIFC) gained minimal points while rest of the traded scrips lost points today. Five companies hit the negative circuit.

Sensitive Index lost 19.20 points and closed at 321.43 points while Float Index lost 6.95 points and closed at 106.10 points.

All the sub-indices ended in the red zone after losing points. Non-Life Insurance, Life Insurance and Banking sectors were among top losers.