NEPSE, an indicator of investors´ confidence level in the share market, closed at 642.04 points on Sunday, the first day of this week´s trading.
“Sunday´s loss was the latest in a series of continual erosion of the investors´ confidence in the stock market due to the ongoing political upheaval,” Nanda Kishore Mundada, president of Nepal Stock Brokers Association told myrepublica.com.
Mundada said that Sunday´s loss was not, however, abnormal, as fluctuations in NEPSE by less than one percent is considered to be normal.
The NEPSE had actually climbed over 648 points at 11.26 AM, before slumping to 642.04 points at the day´s close, after the news got around about the removal of the Chief of the Army Staff by the cabinet.
In Sunday´s trading, the Sensitive Index, which shows the share prices of group ´A´ category companies, moved into the red, losing 1.95 points, or 1.13 percent, to close at 170.28 points. Similarly, the Float Index, which shows the prices of ordinary shares in the market, also edged down by 0.69 points, or 1.09 percent, to close at 62.52 points. The Banking Group and the Development Bank Group lost 9.05 points and 5.39 points, respectively, while the Finance Group´s index dropped by 3.71 points. The Insurance Group, however, saw a nominal rise of 0.32 points.
A total of 218,590 shares, worth Rs 103.9 million, were traded through 886 transactions on Sunday. Total market capitalization, the total price of shares in the secondary market, reached Rs 411.34 billion.
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