KATHMANDU, May 5: Nepal Stock Exchange (Nepse) nosedived by 37.06 points to close at 2,238.62 points on Thursday due to depleting confidence of investors with a possible rise in the banks’ interest rate amid worsening liquidity crisis.
The market opened at 2,275.68 points and went to a straight fall in intraday trading. The indices of entire 13 trading groups also witnessed fall in their average shares prices.
Stock freefall continues
Stockbrokers said the investors rushed to sell the shares they held citing a possible rise in interest rates. In this regard, the banks and financial institutions that have been reeling under acute liquidity crisis received Rs 98 billion against ‘Standing Liquidity Facility’ from the central bank on Wednesday.
On Thursday trading, total turnover amount increased marginally to Rs 1.65 billion from Rs 1.26 billion on the previous day. Surya Life Insurance Company had the largest transaction of its shares worth Rs 84.58 million. Everest Insurance Company Limited Promoter Share was the highest loser while the share price of Jalpa Samudayik Laghubitta Bittiya Sanstha gained the largest percent.
