Published On: January 14, 2023 05:20 PM NPT By: Republica | @RepublicaNepal
KATHMANDU, Jan 14: Nepal Stock Exchange (Nepse) last week increased by a marginal 5.46 points due to the uncertainty in the position of political parties over a new government.
The secondary market opened at 2,143.93 points on Sunday and closed at 2,149.39 points on Thursday. The trading took place for four days after the government declared Wednesday a public holiday to commemorate the birthday of late King Prithvi Narayan Shah.
Over the weekdays, the market went as high as 2,277.25 points, while the index hit as low as 2,127.08 points. Overall, the market witnessed fluctuations of 150.17 points.
The market started with a gain of 20.55 points on Sunday, which was followed by a whopping gain of 46.76 points on Monday. The market corrected by a fall of 21.35. On Thursday too, the market declined by 41.04 points. According to the stockbrokers, the last two day fall was due to the uncertainty that the Finance Minister Bishnu Prasad Poudel may not continue in the new political equation.
Five out of the 13 trading groups lost in their average share prices last week. These included finance, hotels and tourism, manufacturing and processing, microfinance and others. Of the gainers, hydropower had their market value increased by 102.13 points, the largest of all.
Total turnover increased to around Rs 24 billion from over Rs 19 billion in the previous week. The average daily turnover stood at Rs 5.977 billion from Rs 3.80 billion. Market capitalization increased marginally from Rs 3.101 trillion to Rs 3.103 trillion.
In individual companies, Ridi Power Company Limited had the largest transaction of its shares worth Rs 723.76 million. Barahi Hydropower Public Limited was registered as the top gainer, while Buddha Bhumi Nepal Hydropower Company was the top loser.
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