The Nepal Stock Exchange (NEPSE) Index saw a sharp decline in the market, dropping by 58.93 points, or 2.33%, to close at 2,470.39 on Tuesday. This comes after a similar fall of 59.02 points in the previous trading session, marking a continued downward trend in the stock market.
Throughout the trading day, the NEPSE Index fluctuated, beginning at 2,529.14 points. The market experienced an intraday high of 2,547.47 points before dipping to a low of 2,462.61 points. The final closing position reflects a volatile session for investors.
The Hotel and Tourism sector, which plays a crucial role in Nepal’s economy, was particularly hard hit, with its index plummeting by 163.81 points, or 2.66%, to close at 5,988.62. This decline follows an even steeper drop of 212.06 points in the previous session, adding to concerns within the industry.
Like the broader market, the Hotel and Tourism Index also experienced fluctuations, starting the day at 6,152.66 points and reaching an intraday high of 6,218.97 points. However, the index later hit a low of 5,931.32 points before settling at its final position.
These drops in both the overall NEPSE Index and the Hotel and Tourism sector reflect the broader market volatility and challenges faced by the tourism and hospitality industries in Nepal. Analysts suggest that the ongoing economic uncertainties and investor caution have contributed to the recent declines.
For stakeholders in the tourism sector, these market movements signal potential impacts on future investments, with the continued performance of the Hotel and Tourism Index being closely watched by market observers.
