NEPSE Plummets by 105 Points Amid Market Sell-off

Kathmandu. The Nepal Stock Exchange (NEPSE) index witnessed a significant downturn on Sunday, the first trading day of the week. The index fell by 105.50 points, closing at 2676.68. This decline resulted in a market capitalization loss of 179 billion rupees in a single day. 

The downward trend, which began at the opening bell, persisted throughout the session, leaving investors discouraged. Both the index and the total turnover saw a decline.

Throughout the day, 31,206,162 shares of 345 companies were traded across 141,036 transactions, totaling 12.38 billion rupees.

Market breadth was notably weak today. While the share prices of 261 companies declined, only 7 companies saw gains. No company's share price remained stable.

Despite the sharp decline, some investors in smaller companies saw gains. Reliance Spinning Mills, Bhujung Hydropower, Ridgeline Energy, Hotel Forest Inn, Super Khudi Hydropower, and Suryodaya Hydropower hit positive circuits. 

Conversely, Narayani Development Bank, Himalayan Reinsurance Company, Bhugol Energy, Guardian Micro Life Insurance, Saptakoshi Development Bank, Pure Energy, and Sanvi Energy hit negative circuits today. 

In terms of turnover, Himalayan Reinsurance led the market with over 582.5 million rupees in trades. Shivam Cements, Ngadi Group Power, and National Hydropower followed as the top traded companies with 451.7 million, 420.3 million, and 367 million rupees respectively.

The market, which declined from the start, corrected by 100 points in the first three hours. Despite a brief recovery, the market fell further toward the end of the session. The negative sentiment is attributed to the government initiating money laundering investigations against business figures.