KATHMANDU, June 1: Nepal Stock Exchange (NEPSE) plunged 61.96 points last week as a result of the investors responding negatively to the annual budget announced by the government.
According to stockbrokers, the market was influenced also due to selling pressure after the investors rushed to book their profits from the heavy rise in stock prices in the previous week. The market added a notable 112.73 points during that period after Nepal Rastra Bank unveiled the third quarterly review of the monetary policy 2023/24.
The market opened at 2,131.49 points on Sunday and closed at 2,069.53 points on Thursday. The index went as high as 2,152.85 points while it plunged to as low as 2,065.68 points, witnessing volatility of 87.2 points.
NEPSE lost 43.98 points; share investors lost Rs 7 billion last...
In the review period, the market started the week with a notable decline of 22.14 points on Sunday. The index however inched up 3.93 points on Monday. On Tuesday, the market remained closed due to the public holiday announced by the government to mark ‘The Republic Day.’ On Wednesday and Thursday, the market declined 4.57 points and 19.89 points, respectively.
Of the three gaining groups, manufacturing and processing added 250.95 points in its index, followed by hotels and tourism (73.54 points) and mutual funds (0.07 points). Non-life insurance lost 355.50 points, while life insurance, microfinance and development banks were also the losers of three-digit points.
Among individual companies, CEDB Hydropower Development Company Limited held the largest transaction of its shares worth Rs 651.39 million. IME Life Insurance Company lost the highest of 23.13 percent (131.40 points), while Kalinchowk Darshan Limited added the highest of 23.45 percent (219 points).
The total turnover amount declined to Rs 17.12 billion from Rs 21.99 billion in the previous week. The average daily turnover also dropped to Rs 4.28 billion from Rs 5.49 billion.
The market capitalization also declined to Rs 3.281 trillion from Rs 3.379 trillion in the previous week. It made the share investors face a loss of Rs 98 billion in their portfolio. In the previous week, investors posted capital gains of Rs 178 billion from the shares market.
