Bhotekoshi Flood Takes Down Hydropower, Non-Life Insurance Stocks Prices

Kathmandu:  Share prices of hydropower and non-life insurance declined by whopping marks as Nepal Stock Exchange (NEPSE) nosedived 35.92 points over the massive floods in triggered in Rasuwa district on Wednesday that damaged majority of power plants in the region.

The non-life insurance and hydropower groups declined by whopping 404.05 points and 104.33 points, respectively. According to an investor, the heavy losses in the stocks prices of these groups were the results of devastation effects in the hydropower plants due to Wednesday flood.

Life insurance also lost the notable of 175.13 points on Wednesday trade. Overall, 13 groups posted loss in their market values. The daily turnover amount however inclined to Rs 4.77 billion.

Among individual companies, a total of 252 companies were the losers, as 23 gained while three remained stable. Chilime Hydropower Company had the largest transactions of Rs 205.68 million. Rasuwagadhi Hydropower Company was the topmost loser of 15 percent.