KATHMANDU, Sept 16: Nepal Stock Exchange (Nepse) gained 74.61 points last week due to an improvement in investors’ expectation that the interest rates might fall amid growing liquidity with banks.
The secondary market opened four days for trading with the government announcing a public holiday on Thursday to mourn the demise of the CPN-UML leader Subash Nembang. The market opened at 1,932.45 points on Sunday while it closed at 2,007.06 points on Wednesday.
During the period, the index went as high as 2,007.06 points and as low as 1,933.12 points, taking the market to the volatility of 73.94 points. It was the first time in the past three months that the Nepse index crossed 2,000 points.
Nepse hits 2-year high after week's broad surge
The market started the week with a gain of 10.23 points. On Monday too, the index inclined by a notable 44.30 points. On Tuesday, the market shed 19.42 points, followed by a whopping gain of 39.48 points on Wednesday.
Along with a gain in the market index, the total turnover amount escalated to Rs 5.221 billion from Rs 4.233 billion in the previous week. This shows that the transaction volume inclined 23.33 percent.
The average daily turnover amount also increased to Rs 1.305 billion from Rs 1.058 billion during the review period.
All the 13 trading groups gained in the market transaction last week. Of them, the index of life insurance inclined 507.24 points, the highest among all. Non-life insurance, hotels and tourism, trading, manufacturing and processing, development bank and microfinance also added three-digit points in their market values.
Among the individual companies, Shivam Cements Limited posted the highest turnover of its shares worth Rs 210.94 billion. Shuvam Power Limited was the topmost gainer, while Siddhartha Investment Growth Scheme-2 was the biggest loser, with its market price falling by 10.22 percent.
The market capitalization inclined to Rs 3.004 trillion from Rs 2.892 trillion during the review period. As a result, the investors gained Rs 112 billion from their investment portfolio in the country’s secondary market.
