Nepse Index falls massively by 58.46 points with turnover of Rs 1.24 arba; Expert opines “It’s a short term fall not an end of bull run”

On the first trading day of the week, the benchmark index at Nepal Stock Exchange Limited (NEPSE), dwindled by 58.46 points or 3.53% to close at 1599.62 points. Today Nepse Index opened at 1657.98 points and the index declined by 4 percent negative circuit break in the second trading hour of the day. Market resumed at 1:07 PM and bounced back up to 1630.34 points then it was again seen in downward trend. In domestic market, circuit breakers are clamped when share index rises or falls by 3 percent, four percent and five percent. This is done to protect the market from negative effects of sudden upward or downward movement in share prices. Sandeep Bikram Rana, Market Expert said, “Market declined mainly due to massive panic selling from new and inexperienced investors who are thinking that market is going to collapse soon. I would like to request all investors to calm down since companies performance are satisfactory and there is no reason to panic as major reform work in the stock market is still going on. Recent fall is just a short term fall, not a start of bear run. So I request all investors not to be fearful while market is falling.” 155,324 units’ shares of Civil Bank Limited (CBL) and 104,000 unit shares of Laxmi Value Fund (LVF1) were traded most today. Everest Bank Limited (EBL) and National Life Insurance Company Limited (NLICL) have the highest turnover of Rs 18.65 crore and Rs 11.23 crore respectively today. The total turnover of the day stood above Rs 1.24 arba, where more than 15.32 lakhs unit shares were traded through 6,776 transactions. Sensitive index and float index went down by 13.24 points and 4.51 points respectively. All sectors at Nepse landed in red.