KATHMANDU, March 30: The stock market declined for the second consecutive day following the formation of the new government, with both the NEPSE index and trading turnover falling on Monday.
The benchmark NEPSE index dropped by 47.71 points to 2,831.39, while all sectoral sub-indices recorded losses. The trading sector saw the biggest decline, falling by 2.56 percent. Investors in 237 companies recorded losses during the session.
On Sunday, the market had already fallen 71.05 points, with total transactions worth Rs 15.03 billion. On Monday, trading volume also declined, reaching Rs 12.96 billion.
Nepse up for a fifth consecutive week
A new government led by Balendra Shah of the Rastriya Swatantra Party was formed after the March 5 election.
Among individual companies, Solu Hydropower recorded the biggest drop in share price, falling 7.79 percent, followed by Unique Nepal Microfinance, which declined 7.23 percent.
Despite the overall decline, 26 companies recorded price gains, while five remained unchanged. Shares of six companies hit the positive circuit limit, including Reliance Spinning Mills, Bhujung Hydropower, Ridgeline Energy, Hotel Forest Inn, Super Khudi Hydropower, and Suryakund Hydropower.
In terms of trading volume, Ridi Power recorded the highest turnover, with shares worth Rs 684.1 million traded. It was followed by Ngadi Group with Rs 438.1 million, Shivam Cement with Rs 438 million, and API Power with Rs 385.6 million worth of transactions.
