On the day of prime minister's election, NEPSE saw a steep decline losing 2.82% in the index. The drop was led by top heavy weights like Standard Chartered Bank and Nabil Bank Limited. The whole market sentiment was negative probably because of the certainity of Dr. Babu Ram Bhatarai being elected as the new prime minister of the country. Dr Bhattarai had called the stock market as "casino" in his tenure as the Finance Minister. The fall in the Nabil bank can also predicted as the reaction of the investors to the declaration of dividend of just 30%, investors were expecting somewhere above 50%.
Altogether, 63 stocks went negative on sunday's trading while only 6 stocks posted some gain. The major losers were Nabil and standard chartered, losing 10% and 9% respectively.
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