Nepse falls deeply by 500pts

Kathmandu, May 3 – The share market had been bullish since mid-April 2012 after going through four years of a bearish trend. The index had even reached 555 points few years back.

The index slumped by 7.82 points to 492, today, sending the index below 500 points after five months. On November 10 last year, the index had crossed 500 points after two and a half years.

The insurance subgroup suffered a loss of 20.25 points as share prices of Nepal Life Insurance and Lumbini Life Insurance dipped by Rs 65 and Rs 11, respectively.

The share price of Chilime Hydropower went down by Rs 20, while that of Butwal Power and Arun Valley Hydropower slumped by Rs four and Rs five, respectively, and the hydropower subgroup plunged by 19.49 points.

Commercial Banks, development banks and finance companies went down by 9.36 points, 1.53 points and 1.3 points, respectively.

Soaltee Hotel’s gain of Rs five pushed the hotels subgroup up by 6.65 points. Today, 173,312 unit shares of 83 companies were traded in 1040 transactions.

The market capitalisation of the stock exchange today stood at Rs 480.5 billion.