Nepse plunges to nine-month low «

Nepse plunges to nine-month low

Though, the market Pundits claim that election pushes the share market up, Nepal Stock Exchange (Nepse) index plunged 21.53 points on Wednesday — in a single day — to close at a nine-month low of 1,425.51 points. The recent election could not give a boost to the local share market.
The stock market on March 20 had had closed at 1,424.38 points.
The share market dropped for the second straight day by over 20 points and fourth straight day on Wednesday, losing a cumulative 46 points.
The current rise in the interest rates due to shortage of lonable fund in the banking sector has sent stocks to a freefall, according to brokers. The ongoing political bickering over formation of leftist-majority government has also weakened the investors’ confidence.