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Saturday, October 1, 2022

Shares fell sharply on Sunday, the first day of the week

The stock market gauge Nepse index has declined sharply on the first day of trading after the monetary policy review of Nepal Rastra Bank.

On Sunday, the Nepse index dropped by 80.29 points to 2,651.49 points. Share investors had expected the NRB’s monetary policy of Rs 4-12 crore to be amended in the monetary policy review.

However, the stock market has seen a sharp decline as the monetary policy review has not revised the limit of Rs 4-12 crore. NRB had made an arrangement in the monetary policy to take share pledge loan only from Rs 40 million to Rs 120 million.

A total of 119,03,202 shares of 234 companies worth Rs 5.83 billion were traded on Sunday. Only six companies traded on Sunday. ICFC Finance’s share price has risen about 10 percent.

Smuggling Power Company’s 8 percent, Nirdhan Utthan Microfinance’s 3 percent, and Nepal SBI Bank’s 2 percent. Similarly, the share price of Himalayan Power Partner and Manushi Microfinance has declined by 8-8 percent.

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