KATHMANDU, Nov 15: Nepal Stock Exchange (NEPSE) last week declined 50.39 points (1.94 percent) amid an ongoing bearish trend in the secondary market triggered by a decline in investors’ confidence.
The secondary market opened at 2,596.12 points on Sunday and closed at 2,545.73 points on Thursday. Over the period, the index reached a high of 2,599.21 points, while it was recorded at a low of 2,530.32 points, resulting in a volatility of 68.89 points.
On Sunday, the market opened at a negative note with the index plummeting by 30.02 points. On consecutive days too, the market slid 4.15 points. The market index marginally increased by 3.21 points while showing a pathetic turnover of Rs 3.62 billion on Tuesday. The index however plummeted by 20.56 points again on Wednesday. On Thursday, the market index was almost stable with a slight increase of 0.31 points to close for the week.
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Hotels and tourism was the only gainer, with the group adding 1.08 percent in its market index. Among the 12 losing groups, finance shed the highest of 4.96 percent in its market value. Pointwise, life insurance, with a fall of 287.94 points, was recorded as the largest loser.
In terms of the individual companies, NRN Infrastructure and Development Limited was the top-traded company, witnessing transactions worth Rs 1.50 billion. Unnati Sahakarya Laghubitta Bittiya Sanstha Limited witnessed the largest decline of 21.85 percent in its market value, while the share price of Sagar Distillery Limited surged 60.97 percent, the highest of all.
The total turnover amount stood at Rs 20.39 billion, down from Rs 30.50 billion in the previous week. The average turnover also declined to Rs 4.07 billion from Rs 6.10 billion.
In the review period, the market capitalization declined to Rs 4.273 trillion from Rs 4.341 trillion, making investors lose Rs 68 billion in their portfolio. In the previous week, the investors lost Rs 5.78 billion.
