Nepal Stock Exchange (Nepse) saw a negative trend after the first-quarter financial results of listed companies for the current fiscal year 2082/83 were released.
Many listed companies performed below expectations, which affected the overall stock market. Profits of commercial banks fell in the first quarter, and national development banks also reported lower earnings. A slow economy and the ongoing Gen-Z protests have impacted the income of most companies, according to their first-quarter financial statements.
Following the release of these reports, the stock market dropped on Sunday. The Nepse index fell by 30 points, and total trading was limited to Rs 4.9 billion.
The Nepse index continued to decline throughout the day. It opened at 2,598.4 points and dropped 30.02 points, or 1.15%, to close at 2,566.09 points.
Nepse said the decline was driven by falling share prices of most companies. On Sunday, 222 companies saw their share prices drop, while 28 companies’ shares rose, and one company’s price stayed the same.
All sectoral indices also fell. The banking sector dropped 17.72 points, and the development bank sector fell 98.61 points. Other sectors also saw declines: finance (-69.49), hotels (-43.38), hydropower (-39.40), investment (-1.63), life insurance (-174.95), manufacturing (-62.12), microfinance (-62.86), mutual funds (-0.21), non-life insurance (-144.68), other sectors (-3.03), and trading (-21.95).
On Sunday, a total of 323 companies traded 47,268 transactions, with 10,619,000 shares bought and sold, totaling Rs 4.9076 billion. This was slightly lower than last Thursday, when trading totaled Rs 5.32 billion.
Despite the overall drop, some companies saw gains. Shares of Darimkhola Hydro, Mailung Energy, Sagar Distillery, and Ruru Hydropower rose by more than 9%, Nepse reported.
