KATHMANDU, March 18: Nepal Stock Exchange (Nepse) last week went down 69.39 points despite banks reducing interest rates.
The secondary market opened at 2,002.70 points on Sunday and closed at 1,933.31 points on Thursday. During the review period, the market soared as high as 2,016.05 points and as low as 1,920.10 points. Overall, the market witnessed a volatility of 95.95 points.
With a notable fall of 26.80 points, the market opened at a negative note on Sunday. On Monday too, the index declined 24.68 points, which was followed by a marginal rise of 1.85 points on Tuesday. On the remaining two days, the market shed 14.44 points and 5.32 points, respectively.
According to stockbrokers, the country’s stock exchange market has been affected by a delay in the appointment of a new finance minister. The investors have failed to gather confidence despite banks being ready to reduce interest rates, a stockbroker said.
All the 13 trading groups lost in their average share prices in the review period. Life-insurance lost the highest of 411.61 points, along with other four groups losing three-digit points in their market indices.
Total turnover stood at Rs 6.30 billion. The average daily turnover fell to Rs 1.261 billion from Rs 1.387 billion in the previous week. Market capitalization also declined from Rs 2.901 trillion to Rs 2.793 trillion.
Among individual companies, NIC Asia Bank had the largest transaction of its shares worth Rs 345.70 million. Swarojgar Laghubitta Bittiya Sanstha Limited lost the highest percent in its market price. Likewise, Shuvam Power Limited was recorded as the topmost gainer.