Too Many Bad News in Single Day: NEPSE Loses 2.17% and Closes at 2,661.44

Thu, Feb 24, 2022 3:51 PM on Stock Market, Latest,

The NEPSE index closed at 2,661.44 today after losing 58.99 points from yesterday's closing. The index had lost 15.5 points yesterday.

There was a slew of negative news at the national and international level that impacted the market today, although the exact impact of each may never be known.

Russian President Vladimir Putin launched a full-scale attack against Ukraine, as Ukraine itself claims. Russian missiles and airstrikes hit Ukraine’s capital, Kyiv, and more than a dozen other cities across the country Thursday. This came minutes after Russian President Vladimir Putin announced a military operation "to demilitarize and denazify Ukraine” and bring its leaders to trial.

Back at home, protesters have clashed with the police in Baneshwor in opposition to the ratification of the Millennium Challenge Corporation. The U.S. foreign assistance has proved controversial and divisive. On top of this, Nepal Rastra Bank imposed a higher risk weight on share loans, which is yet another negative news as it translates to a reduction in margin lending.

The index opened at 2,715.44 today did not trade higher. While it went as low as 2,654.98, it ultimately closed at 2,661.44.

229 scrips traded hands via 65,011 transactions. Furthermore, a total of 8,490,689 shares exchanged hands amounting to Rs. 4.293 Arba in the turnover amount. This is higher than yesterday's turnover of Rs. 3.131 Arba.

National Hydro Power Company Limited (NHPC) had the highest turnover of Rs. 26.97 crores closing at a market price of Rs. 415 per share. Its shares also traded the most.

Himalayan General Insurance Co. Ltd (HGI) gained the highest 9.91% and closed at Rs. 765. Meanwhile, UNIVERSAL POWER COMPANY LTD (UPCL) has lost the highest 5.70%.

All sector indices closed red today. "Finance" gained the highest 3.01%.