KATHMANDU, July 20: The Nepal Stock Exchange (NEPSE) surged by a whopping 219.71 points last week, after investors regained confidence in the share market with the formation of a new government led by CPN-UML leader KP Sharma Oli.
In the previous week, the share market jumped up more than 300 points due to this reason. Last week alone, the market index hit the 27 month high mark while the daily turnover also recorded a 35 months high of Rs 15.54 billion.
The secondary market opened at 2,204.61 points on Sunday and closed at 2,424.32 points on Thursday. The index reached a high of 2,459.94 points and a low of 2,230.50 points, witnessing a volatility of 229.44 points.
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In five day trading last week, the market index escalated four days. On Sunday, the market opened for the week at a positive note by adding 52.97 points. On Monday, the market corrected with a decline of 17.18 points. On the consecutive three days, the market escalated with 70.18 points, 54.04 points and 59.68 points, respectively.
All the 13 groups were successful in increasing their market values. Manufacturing and processing gained the highest of 623.97 points, while a total of 11 groups were the gainers of three-digit points. Investment and mutual funds, with additional values of 7.09 points and 0.79 points, were among the least gainers.
Among individual companies, Upper Tamakoshi Hydropower Limited had the largest transaction of its shares worth over Rs 1.11 billion. Ridi Power Company Limited gained the highest of 29.46 percent. The price of Nepal Investment Bank Debenture 2082 dropped the largest of 11.21 percent (128.40 points).
The total turnover amount increased to Rs 53.09 billion from Rs 28.93 billion in the previous week. The average daily turnover also inclined to Rs 10.61 billion from Rs 5.78 billion.
Market capitalization escalated to Rs 3.846 trillion from Rs 3.496 trillion during the review week, which gave the investors with capital gains of Rs 35 billion in their portfolio. In the past three weeks, investors had their capital gains of more than Rs 275 billion.
