KATHMANDU, March 9: Nepal Stock Exchange (NEPSE) added 58.49 points last week, backed by the formation of a new coalition government along with the appointment of a new finance minister.
The market, which had undergone a downfall of 110 points in the past few weeks, seemed to have regained the momentum last week after Prime Minister Pushpa Kamal Dahal joined hands with the CPN-UML and Rastriya Swatantra Party, among other political parties to form a new government.
Last week, the market opened at 1,972.09 points on Sunday and closed at 2,030.55 points on Thursday. During the review period, the market went as high as 2,078 points while it plunged to as low as 1,947.28 points, witnessing a volatility of 130.72 points.
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The market, with a heavy fall of 11.78 points on Sunday, started the week at a negative note. On Monday, the market skyrocketed by adding 117.70 points, while the market closed at midday facing the three circuit breakers.
On Tuesday, the index plunged 70.31 points. On the following two days, the market inclined 9.33 points and 13.51 points, respectively.
The total turnover amount inclined to 13.207 billion from Rs 11.608 billion in the previous week. The average daily turnover also increased to Rs 2.641 billion from Rs 2.32 billion.
The market capitalization increased to 3.191 trillion from Rs 3.099 trillion in the previous week. It made the shares investors gain Rs 92 billion in their portfolios. It gave some respite to the investors who lost over Rs 200 billion from the shares trading in the previous few weeks.
