KATHMANDU, March 11: Nepal Stock Exchange (Nepse) last week gained 33.68 points in the aftermath of the presidential election and banks turning lenient to reduce interest rates on loans.
The secondary market opened at 1,969.02 points on Sunday and closed at 2,002.70 points on Thursday. During the review period, the market soared as high as 2,002.70 points and as low as 1,935.49 points. Overall, the market witnessed the volatility of 67.20 points.
Last week, the market carried out trading for three days, as the market remained closed to mark public holidays for Holi and International Women’s Day on Monday and Wednesday, respectively. The market opened at a negative note plunging by 30.77 points on Sunday.
On Tuesday, the market however increased by 14.41 points. On the last trading day of the week, the market escalated by 50.04 points to cross 2,000 points.
According to stockbrokers, the country’s stock exchange market was affected by the election for the new president. Last week, the executives of commercial banks also agreed to reduce interest rates of banks from March 15.
Except for manufacturing and processing, the remaining 12 trading groups gained in their average share prices in the review period. Of the gainers, non-life insurance and life insurance groups added up with three-digit points.
Total turnover stood at Rs 4.16 billion. The average daily turnover fell to Rs 1.387 billion from Rs 1.686 billion in the previous week. Market capitalization also increased from Rs 2.844 trillion to Rs 2.901 trillion.
Among individual companies, Himalayan Distillery Limited had the largest transaction of its shares worth Rs 235.68 million. Super Madi Hydropower Limited was the topmost gainer. Likewise, Chhimek Laghubitta Bittiya Sanstha Limited lost the highest percent of its market price.