Stock Market tumbles to a 8-month low; Index lost 42.84 points to close at 1432.57 points; turnover above Rs 48.12 crore

Nepal Stock Exchange Limited (NEPSE) Index further plunged by 42.84 points to close trading at 1432.57 points today. All sectors including banks that dropped by 40.86 point to close at 1357.84 points, ended in red zone pulling NEPSE downward to 1432.57 points due to negative sentiments among the investors. Today, Nepse Index opened at 1475.41 points and after that it was seen in continuous downward trend. Nepal Doorsanchar Company (NTC), that went up by 3.37% on previous trading day (Dec 22) to Rs. 705, declined by 1.84% today to close at Rs. 692. Nepse eventually closed at 1432.57 points, the lowest it has been in eight months. The index was last this low on April 20 at 1440.69 points. 579,149 unit shares of NMB Sulav Investment Fund 1(NMBSF1) and 272,840 unit shares of Laxmi Value Fund 1 (LVF1) were traded the most today. LVF1’s Net Asset Value had declined to Rs. 11.89 this week. Janautthan Samudayic Laghubitta Bikas Bank Limited (JSLBB) and Mero Microfinance Bittiya Sansatha Limited (MERO) hit positive circuit break today. Nagbeli Laghubitta Bikas Bank Limited (NBBL), Karnali Bikas Bank Limited (KRBL), Guheswori Merchant Banking Limited (GMFIL) and Progressive Finance Limited (PROFL) hit negative circuit today. The total turnover of the day stood above Rs 48.12 crore where more than 15.50 lakh units shares were traded through 4,237 transactions. Sensitive and float index went down by 9.55 and 3.21 points respectively. Sub-indices of insurance and hydropower sector dipped by 311.01 points and 44.16 points respectively.