NEPSE Falls 71 Points Despite New Government Formation, Market Fails to Reflect Positive Sentiment

After the formation of New Government most of the investor expect that the market will rise today (Sunday) but market moves to opposite direction indicating selling pressure or profit booking by the investor. It's been 2 days of formation of the new government and market fails to react on the positive sentiment of general public.

The Nepal Stock Exchange (NEPSE) recorded a massive loss today, loosing by 71.05 points (2.40%) to settle at 2,879.11.

The benchmark index opened at 2,958.78, touching an intraday high of 2,958.79, while the lowest point was 2,872.99. Total turnover for the day reached Rs. 15.03 Arba, with 35,248,397 shares traded across 333 companies through 196,158 transactions. Market capitalization stood at Rs. 48.88 Kharba, with a float market capitalization of Rs. 16.51 Kharba.

RIDI Power Company Limited (RIDI) topped the turnover chart, amounting to Rs. 71.111 crores. The stock closed at Rs. 377.00.

Three companies hit the upper circuit that includes RSML, SKHL and RLEL.

Meanwhile, Unique Nepal Laghubitta Bittiya Sanstha recorded the Highest drop, falling 6.17 %.

Most of the sector falls more than 2% and highest drop is recorded in Finance index falling by 3.37%.

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