KATHMANDU, May 27: Nepal Stock Exchange (NEPSE) on Tuesday increased marginally by 0.85 points.
Despite Nepal Rastra Bank initiating flexible policy through the third-quarter review of the monetary policy, it has so far failed to boost confidence of investors towards the country’s secondary market. The index declined by 5.21 points also on Monday, the consecutive day of the announcement of the review. According to stockbrokers, investors are in wait and watch mood regarding the budget announcement to take place on Thursday.
In the intraday trading on Tuesday, the market opened at 2,674.76 points and plunged to the day’s low at 2,655.86 points in the first 14 minutes. The index however went upward in the next moment and reached as high as 2,684.4 points in the midway of the four-hour trading period. The market could not retain its charm for investors while the index slid by around nine points in the remaining period.
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Six out of the 13 groups were gainers, with development banks posting the highest of 89.89 points. Of the losers, the life insurance index declined by the largest of 72.94 points.
The sensitive index, which measures the performance of ‘A’ class companies, inclined 0.87 points. Daily turnover amount slightly fell to Rs 6.52 billion from Rs 7.58 billion on Monday.
Among the individual companies, 86 were gainers while 161 were the losers. Universal Power Company had the biggest turnover of its shares worth Rs 635.81 million.
Four companies including Corporate Development Bank, Om Meghashree Pharmaceuticals Limited, Green Development Bank and Bhugol Energy Development Company were recorded as the topmost gainers. Gurans Laghubitta Bittiya Sanstha Limited lost the largest of 7.09 percent of its market value.
