NEPSE down with 26.35 points while investors lost Rs 41 billion from share trading last week

Published On: August 24, 2024 05:40 PM NPT By: Republica | @RepublicaNepal

KATHMANDU, Aug 24: The Nepal Stock Exchange (NEPSE) last week corrected by 26.35 points, after witnessing the bullish trend for the past few weeks.

In the previous three weeks, the secondary market surged by 143.79 points, 187.51 points and 234.43 points, respectively. According to stockbrokers the market index plunged last week as investors booked profits out of surged prices of shares they owned.

In three-day trading, the secondary market opened at 3,000.81 points on Sunday and closed at 2,974.46 points on Thursday. The government announced public holidays on Monday and Tuesday to mark Raksha Bandhan and Gai Jatra, respectively. During the period, the index reached as high as 3,048.15 points and as low as 2,943.61 points, witnessing a volatility of 104.54 points.

on Sunday plunged by 34.47 points to close at 2,966.33 points. on Wednesday increased marginally by 2.11 points to close at 2,968.44 points. on Thursday slightly increased by 6.01 points to close at 2,974.46 points.

The market opened for the week with a decline of 34.47 points on Sunday. The market increased marginally by 2.11 points on Wednesday, followed by an increase of 6.01 points on Thursday.

Five out of the 13 groups were the gainers. Development bank gained the biggest of 167.32 points and finance added 126.78 points. Banking, life insurance and mutual funds were among others on the list. Hotels and tourism lost the highest of 328.63 points whereas four other groups lost three-digit points.

Among individual companies, Himalayan Reinsurance Limited had the largest transaction of its share worth over Rs 1.92 billion. Matribhumi Laghubitta Bittiya Sanstha Limited lost the highest of 12.93 percent (217.50 points). The share price of Multipurpose Finance Company Limited increased by the largest of 26.14 percent (184.00 points).

The total turnover amount decreased 47.70 percent; to Rs 66.90 billion from Rs 127.92 billion in the previous week. The average daily turnover declined to Rs 22.30 billion from Rs 25.58 billion.

Market capitalization dropped to Rs 4.724 trillion from Rs 4.765 trillion during the review week, which made the investors face a loss of Rs 41 billion in their portfolio. In the previous week, investors had capital gains of Rs 374 billion.