Nepse plunges to nine-month low

December 28, 2017 03:00 AM Republica


KATHMANDU, Dec 28: Nepal Stock Exchange (Nepse) index plunged 21.53 points on Wednesday to close at a nine-month low of 1,425.51 points.

The stock market was at this level earlier on March 20 when the benchmark index had closed at 1,424.38 points.

The benchmark index shed values for the fourth straight day on Wednesday, losing a cumulative 46 points.  

Analysts say that the rapid rise in the interest rates amid shortage of lendable fund in the banking industry has sent stocks to a freefall. Similarly, they also say that the ongoing political bickering over formation of national assembly has also weakened the investors' confidence which was already low due to the victory of 'left alliance' in the recently held provincial and parliamentary polls.

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