Nepse added up with 67.72 points, investors gained Rs 49 billion from shares transactions last week

Published On: April 15, 2023 07:25 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, April 15: Nepal Stock Exchange (Nepse) last week gained 67.72 points, backed by the banks’ decision to reduce the interest rates.

The secondary market opened at 1,866.79 points on Sunday and closed at 1,934.51 points Thursday. During the review period, the market rose to as high as 1,963.55 points.

With a drop of 28.31 points on Sunday, the share market started at a negative note. The index increased marginally by 5.54 points on Monday. It gained a notable value of 27.31 points and 92.22 points on Tuesday and Wednesday, respectively.

However, on Thursday—the last day of the Nepali year 2079—the market fell 29.07 points. Stockbrokers said the market index dipped after the investors rushed to book profits from the previous two days’ gains.

According to them, the share market last week was buoyed by the change in the interest rates of banks. While the government had been pressurizing the banks to reduce the interest rates, the Nepal Bankers’ Association (NBA) on Wednesday, decided to reduce interest rates on bank deposits below 10 percent. It was for the first time in the past 20 months that the banks’ interest rates on deposits came down to a single digit.

The total turnover amount of shares was recorded at Rs 6.635 billion, up from Rs 4.781 billion in the previous week. The market capitalization increased to Rs 2.813 trillion from Rs 2.764 trillion, ensuring a gain of Rs 49 billion to the investors.