NEPSE declined 22.21 points while investors lost Rs 30.38 billion from share trading last week

Published On: September 7, 2024 04:25 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, Sept 7: Nepal Stock Exchange (NEPSE) last week declined 22.21 points, a fall in the second consecutive week after witnessing over a month-long bullish trend.

In the past two weeks, the market underwent correction after escalating with around 900 points since the change in the government. In the previous week, the secondary market lost 224.89 points.

Last week, the secondary market opened at 2,749.57points on Sunday and closed at 2,727.36 points on Thursday. During the period, the index reached as high as 2,860.43 points and as low as 2,678.91 points, witnessing a volatility of 181.52 points.

The market opened for the week with a notable decline of 53.63 points on Sunday. It however bounced back with a gain of a whopping 127.32 points on Monday. It was followed by a marginal increase of 6.94 points on the consecutive trading day. On Wednesday and Thursday, the index plunged again by 90.73 points and 12.10 points, respectively.

Four out of the 13 groups were the gainers. Non-life insurance added the largest of 659.45 points (5.03 percent). Life insurance, microfinance and development bank were also the gainers of three-digit points.Among the losers, indices of hotels and tourism, and finance plunged by the largest of 160.08 points and 116.08 points, restively.

Among individual companies, Goodwill Finance Company Limited had the largest transaction of its share worth over Rs 1.81 billion. Nepal Finance Limited lost the highest of 20.89 percent (Rs 397 per share). The share price of Wean Nepal Laghubitta Bittiya Sanstha Limited increased by the largest of 35.77 percent (Rs 606 per share).

The total turnover amount decreased 7.12 percent; toRs 59.77 billion from Rs 64.36 billion in the previous week. The average daily turnover also declined to Rs 11.95 billion from Rs 16.09 billion.

Market capitalization slightly declined toRs 4.3364 trillion from Rs 4.3668 trillion during the review week, which made the investors face a loss of 30.38 billion in their portfolio. In the previous week, investors lostRs 358 billion.