Rasuwa floods weigh on Nepal’s stock market as hydropower, insurers slide
Summary
Nepal’s stock market fell sharply after floods in Rasuwa triggered heavy selling in hydropower and non-life insurance shares. The NEPSE index dropped 35.92 points as investors worried about damage to hydropower projects and possible insurance payouts.
Key Points
- The NEPSE index fell 35.92 points to close at 2,558.35 after a major flood hit Rasuwa.
- Hydropower shares dropped 2.84 percent and non-life insurance shares fell 3.90 percent, the steepest decline among sub-indices.
- Investors sold shares of companies with projects in Rasuwa amid reports of damage to hydropower projects.
- A total of 135.8 million shares changed hands in 61,442 transactions, with turnover reaching Rs4.77 billion.
