Monday 25th September 2023
On Thursday, Nepal Stock Exchange or NEPSE witnessed a record daily turnover of NPR 14.768 billion. The growth is a welcome respite as the Himalayan country battles pandemic.
41.813 million shares of 215 companies were traded in the stock exchange through 147,492 transactions. Despite the total transactions amounting to NPR 14.768 billion, the benchmark index dipped 0.04 percent or 1.200 point fall, settling at 2,815.40.
The index fell 0.06 percent or 0.28 points, ending 503.71 points. Sympathetically, the float index lost 0.13 percent or 0.24 points to 193.43 points.
The biggest loser was microfinance sector. The sector’s index nosedived by 191.69 points or 3.41 percent to 5,435.06 points. This loss was due to Nepal Rastra Bank’s tightening the financial institutions’ secondary market investment rules and regulations.
Earlier this week, NRB curtailed banking and finance institutions (BFI) from investing bin “D” class financial institutions. Microfinance enterprises come under the D class institutions. The Nepali central bank also restricted BFI from short-term stock trading. The BFI sectors are to hold the shares and debentures for a year before trading them.
Tingeing this record turnover was gained experienced by the industries in the hydropower sector. Khani Khola Hydropower, United Modi Hydropower, and Nepal Hydro Developers led the pack of winners.
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