KATHMANDU: Monday, the second trading day of the week saw a double digit decline of share market. The stock market surged more than 100 points on Sunday after the ruling coalition decided to suggest the government to hold local elections in May.
According to the Nepal Stock Exchange, the NEPSE index measuring the share turnover has decreased by 13.48 points and reached 2870.05 points Monday.
NEPSE declined by 0.50 percent. The Sensitive Index also declined by 0.39 points to become 538.93 points.
A total of 10,115,669 shares of 225 companies were traded at a turnover of Rs 5,144,177,598, according to NEPSE.
Of the total 13 subgroups traded, shares of all subgroups except investment, microfinance and other subgroups declined. The largest decline was in the finance subgroup. It witnessed the fall of 169 percent.
Hydro Electricity Development Company (HIDCL) had the highest turnover on Monday. The company had a turnover of Rs 571.278 million.
Today, the share price of three companies has seen a positive circuit. Forward Microfinance Company and Win Nepal Microfinance Company, Buddhabhumi Nepal Hydropower Company Limited have seen a positive circuit in their share price.
The share price of Mountain Hydro Nepal Company has declined the most on this day. The company’s share price fell 3.44 percent to become Rs 506 today.
The share experts regard Monday’s decline as a minor course correction and assure investors they need not panic much.
They say that the market sees such a decline when the short time investors, especially, the new comers sell their shares in a minor profit.