NEPSE Drops by 14.88 Points as Insurance Stocks Decline

Kathmandu – The stock market witnessed a double-digit decline on Wednesday, with the NEPSE index falling by 14.88 points to close at 2682.15 points. The drop was driven largely by a significant decrease in the prices of insurance company stocks.

The life insurance index fell by 1.48%, while the non-life insurance index decreased by 0.51%. Investors of LIC Nepal faced the highest loss, with the company’s share price dropping by 3.48% to Rs 998.

Other life insurance companies also saw declines. Sun Nepal Life dropped by 3.20 percent, Citizen Life by 2.79 percent, Reliable Nepal Life by 2.65 percent, and Prabhu Mahalakshmi Life by 1.71 percent. Similarly, Guardian Micro Life declined by 1.02 percent, Asian Life by 0.95 percent, Himalayan Life by 0.82 percent, Nepal Life by 0.70 percent, IME Life by 0.61 percent, Sanima Reliance Life by 0.47 percent, and SuryaJyoti Life by 0.22 percent.

In the non-life insurance sector, Prabhu Insurance fell by 1.51 percent, Shikhar Insurance by 1.32 percent, IGI Prudential by 1.16 percent, and Himalayan Everest by 1.14 percent. Siddharth Premier dropped by 0.82 percent, Sanima GIC by 0.77 percent, United Ajod by 0.46 percent, Neco Insurance by 0.45 percent, Nepal Insurance by 0.17 percent, and RBCL by 0.10 percent.

Reinsurance companies also faced losses, with Nepal Reinsurance and Himalayan Reinsurance declining by 0.55 percent and 0.91 percent, respectively. However, not all insurance stocks were in the red as Sagarmatha Lumbini Insurance and NLG Insurance gained 0.46 percent.