NEPSE Gains 4.19 Points Admist Insurance Sector Slump
Kathmandu – The overall stock market saw a modest gain this week, with the NEPSE index rising by 4.19 points to 2630.71. The insurance sector experienced a significant downturn as the total of 19 insurance companies witnessed sharp declines in their share prices during trading session on this Thursday.
The Life Insurance Index took a considerable hit, plummeting by 38.17 points to 12493. Among the 12 listed companies, only two – Asian Life Insurance and Citizen Life Insurance saw their share prices increase. Companies like Himalayan Life, IME Life, Sun Nepal Life, Reliable Nepal Life, and National Life Insurance experienced significant price drops.
The Non-Life Index also declined by 33.49 points to 12,460.42. While Nepal Insurance, Neco Insurance, NLG Insurance, and Siddhartha Premier Insurance saw minor gains, companies like IGI Prudential Insurance, Himalayan Everest, Sanima GIC, and United Ajod Insurance faced substantial losses.
Both Nepal Reinsurance and Himalayan Reinsurance also experienced sharp declines in their share prices.
