KATHMANDU, May 28: Nepal Stock Exchange (Nepse) went down by 11.31 points last week despite huge attraction of investors to purchase shares amid the stocks’ prices falling to a very low level.
In five-day trading, the market opened at 2,235.09 points and closed at 2,223.78 points. Nepse fell to the borderline of 2,200 points before it bounced back, reaping some hope among the investors.
On Monday, the market plunged 34.21 points followed by gains for the three consecutive days. On Tuesday, Nepse index rose by 16.32 points while on the following two days the market gained 14.37 points and 8.03 points respectively. However, the market on Friday closed with a decline of 15.82 points.
Last week, investors were influenced by three major factors including very low prices of shares, government announced ‘Policy and Programs’ and Nepal Rastra Bank’s Governor Maha Prasad Adhikari’s statement that banks’ interest rate will not fall any time soon, according to the stockbrokers. Overall, there was turnover of shares worth Rs 5.659 billion, slightly more than Rs 5.192 billion in the previous week.
Along with the decline in Nepse index, the market capitalization also declined to Rs 3.166 trillion from Rs 3.179 trillion. The investors lost Rs 13 billion in their book value over the trading last week.