Kathmandu, Sept 18: Following the Gen Z led destructive incidents of Bhadra 23 and 24 (Sept 8 and 9), the stock market reopened but was halted for Thursday after three negative circuit breaks were triggered. The market plunged by 6% throughout the day.
Within just two minutes of opening, the NEPSE index fell by 4%. Trading was then suspended for 20 minutes. When it resumed, the index dropped an additional 1%, bringing the total decline to 5%, and the second circuit break was triggered at 11:23 a.m.
After the second halt, trading was suspended for 40 minutes. When the market reopened at 12:04 p.m., it declined by another 1% (a total of 6%), leading to the third circuit break, after which trading was suspended for the rest of the day.
With the 6% fall, the NEPSE index dropped by 160 points, settling at 2,511. Actual trading lasted for only about 4 minutes, with transactions worth approximately Rs 728.7 million.
The Trading group saw the sharpest decline, down by 9.34%. Similarly, the Others group fell by 7.48%, Hotels & Tourism by 7.24%, and Investment by 7.18%. The “Others” group includes the two reinsurance companies — Himalayan Reinsurance and Nepal Reinsurance — whose heavy losses had a major impact.
Meanwhile, Banking fell by 5.52%, Development Banks by 5.13%, Finance by 4.52%, Hydropower by 5.40%, Life Insurance by 6.66%, Manufacturing & Processing by 5.02%, Microfinance by 4.08%, and Non-life Insurance by 5.42%.
Today, the share prices of 16 companies dropped by the maximum limit of 10%. #nepal #nepse #share
