KATHMANDU, Jan 18: Nepali stock market suffered as the investors lost Rs 77 billion. Last week Nepal Stock Exchange (NEPSE) went down by 46.47 points with investors losing their confidence towards the share market after the central bank found a number of banks and financial institutions manipulating their financial reports.
During the four-day trading period, the market opened at 2,635.09 points on Sunday and closed at 2,588.62 points on Thursday. The government announced a public holiday on Tuesday to mark Maghe Sankranti. During this period, the index rose as high as 2,654.82 points while it dropped to as low as 2,580.40 points, experiencing a fluctuation of 74.42 points.
With a fall of 25.41 points on Sunday, the secondary market opened for weekday-trading at a negative note. On Monday, it went down by 15.54 points, which was followed by a nominal increment of 1.83 points on Wednesday. The market index then suffered a loss of 7.33 points again on Thursday.
Nepse ends in green for four consecutive weeks
All of the 13 groups had their market values drop during the review period. The heavyweight banking index lost 38.06 points (2.75 percent), while the finance index fell by the largest of 393.08 points. Microfinance and development banks also shed 117.91 points and 109.54 points respectively.
Among individual companies, Aatmanirbhar Laghubitta Bittiya Sanstha Limited lost the largest of 23.04 percent, while Barahi Hydropower Public Limited, which 25.86 percent, was recorded as the topmost gainer. NRN Infrastructure and Development Limited had the highest turnover of its shares worth Rs 1.19 billion.
The total turnover during the week plunged by 25.96 percent to Rs 22.40 billion. The average daily turnover also slipped 40.77 percent to Rs 4.48 billion.
The market capitalization declined to Rs 4.293 trillion from Rs 4.370 trillion, making investors endure a loss of Rs 77 billion in total. In the previous week, the investors had enjoyed capital gains of Rs 81 billion from shares trading.
