NEPSE opens for the week with negative circuit beak, losing massive 86.39 points; only eight scrips gain minimal points

On the first trading day of the week, the market initially lost 5% and was halted until 1:12 PM. As trading resumed, within one minute the loss was extended to 6% after which trading for the rest of the day was suspended. The benchmark index lost massive 86.39 points and closed at 1349.31 points. The turnover amount stood at Rs.1.07 Arba achieved through trade of 2,735,418 units of shares traded through 9,239 transactions trading scrips of 161 listed companies in the process.

Nepal Life Insurance Company Limited (NLIC) posted the highest turnover of Rs.8.58 Crore with LTP standing at Rs.1148 per share. Global IME Bank Limited (GBIME) stood ahead in terms of volume with trade of 167,615 units of shares. The LTP of the stock stood at Rs.270 per share.

Only eight scrips posted a gain today, led by NIBL Samriddhi Fund 1 (NIBSF1) with gain of 3.76%. The LTP of the mutual fund scrip stood at Rs.10.48 per unit. Four companies hit the negative circuit. Neco Insurance Limited (NIL) and Life Insurance Company Nepal (LICN) lost the most at 10% each, losing 59 points and 150 points respectively.

Sensitive Index lost 17.35 points and closed at 290.36 points, falling below 300 point mark. Similarly, Float Index lost 6.21 points and closed at 95.74 points, falling below 100 point mark.

All sub-indices ended in the red zone today after losing points. Life Insurance sector lost the most at massive 9.10% followed by Trading and Hotels with loss of 7.86% and 6.86% respectively.