KATHMANDU, June 25: Nepal Stock Exchange (Nepse) declined by 109.32 points last week amid low confidence of investors due to ongoing economic problems faced by the country.
The market opened at 1,971.38 points on Sunday and closed at 1862.06 points on Friday. With the massive fall in market value of shares, investors lost Rs 156 billion in their book value.
On Sunday, the market dropped by 37.27 points while the market lost Rs 49.31 points on Monday. However, the Nepse index soared by 37.49 points on Tuesday before going down by 31.21 points and 45.25 points on Wednesday and Thursday, respectively.
Apart from the country’s economic situation, transactions in the share market were also being affected by investors’ hunger strikes for the past two weeks. It was only on Friday, the protesting investors withdrew strike after the Securities Board of Nepal inked a 19-point agreement with the investors in which the sector’s regulator has expressed its commitment to take forward the policy reforms of the share market. Following the development, Nepse gained 13.78 points on Friday.
Last week, there was a turnover of shares worth Rs 7.59 billion, more than Rs 5.59 billion the previous week. The market capitalization also reduced to Rs 2.65 trillion from Rs 2.81 trillion.