KATHMANDU, June 3: Nepal Stock Exchange (Nepse) plunged 92.78 points last week with the budget for the Fiscal Year (FY) 2023/24 failing to come up with measures to attract the share market investors.
In a four-day trading session with the government declaring a public holiday on Monday to mark the Republic Day, the secondary market opened at 1,959.12 points on Sunday and closed at 1,866.34 points on Thursday. During this period, the market rose to as high as 1,977.36 points and as low as 1,837.43 points, resulting in a fluctuation of 139.93 points in the share market.
The market lost average prices of shares in the first three trading days. However, it closed at a positive note, gaining a double-digit point on the last trading day of the week.
On Sunday, the market fell 17.35 points, followed by a decline of 53.16 points and 38.83 points on Tuesday and Wednesday, respectively. On Thursday, the last weekday of trading, the market gained 16.54 points.
All the 13 trading groups had their market indices dropped. Out of them, eight lost three-digit points. The total turnover amount surged to Rs 8.951 billion from Rs 6.952 billion in the previous week. During the review period, the daily turnover amount increased to Rs 2.237 billion from Rs 1.738 billion.
Among the individual companies, Shivam Cements with a turnover of its shares worth Rs 659.51 million topped the transaction volume. Sunrise Focused Equity Fund had the highest of 14.89 percent drop in its market value. Atma Nirbhar Laghubitta Bittiya Sanstha Limited gained 25.88 percent and stood on top in the category.
The market capitalization fell to Rs 2.724 trillion, down from Rs 2.858 trillion from Rs 2.738 trillion. As a result, the investors lost Rs 134 billion from their investment portfolio.