Nepse dropped by 97 points

Kathmandu: After the government dissolved the House of Representatives, the stock market measure Nepse has come down sharply.

The stock market plunged after President Bidhya devi Bhandari presented a proposal by Prime Minister KP Sharma Oli to dissolve the House of Representatives. The index has been fluctuating since the market opened on Sunday. The Nepse index has closed lower due to fear of political instability.

The market, which has been declining since the start of trading, saw an additional 43 points fall in the last 25 minutes following the news of President Bhandari’s dissolution of parliament.

Overall, the NEPSE index fell by 4.77 percent or 96.88 points to close at 1,135.63 points. The Sensitive Index, which measures the turnover of Class A companies, also declined by 4.25 percent, or 26.39 points, to 369.55 points.

During the day, 1,583,533 shares worth Rs 1.47 billion were bought and sold from 98 companies. Indicators for all groups traded declined. Among other groups, the largest decline was in ‘Other’ group i.e 8.39 percent.

Similarly, hydropower group 6.68 percent, non-life insurance group 5.48 percent, life insurance group 5.05 percent, trade group 4.28 percent, development bank group 3.69 percent, banking group 2.97 percent, production, and processing group. The hotel group declined by 2.92 percent, finance group by 2.63 percent, finance group by 2.35 percent, and mutual fund group by 0.99 percent.