KATHMANDU, Aug 31: The Nepal Stock Exchange (NEPSE) declined by 224.89 points last week, as investors rushed to book profits they had earned in the previous weeks in the secondary market.
In the past month, the secondary market surged by around 530 points. However, since last week, the market has started undergoing a correction.
In four days of trading, with the government announcing Monday as a public holiday to mark Shree Krishna Janmastami, the secondary market opened at 2,974.46 points on Sunday and closed at 2,749.57 points on Thursday. During this period, the index reached as high as 2,990.04 points and as low as 2,727.57 points, witnessing a volatility of 262.47 points.
Nepse index plunged 34.68 points and shares investors lost Rs 4...
NEPSE nosedived 79.88 points on Sunday, dropped 111.96 points on Tuesday, increased slightly by 3.80 points on Wednesday, and plunged 36.83 points on Thursday.
The market opened for the week with a significant decline of 79.88 points on Sunday. The downward trend continued on the next trading day, with the index dropping by 111.96 points on Tuesday. On Wednesday, the market saw a slight increase of 3.80 points, followed by another double-digit fall of 36.83 points on Thursday.
All 13 sectors recorded losses last week. The life insurance sector shed the most, losing 1,244.02 points, followed by the non-life insurance sector, which declined by 1,062.00 points. Percentage-wise, the finance index recorded the largest drop, losing 10.45 percent (415.55 points).
Among individual companies, Himalayan Reinsurance Limited had the largest transaction volume, with shares worth over Rs 2.12 billion traded. Central Finance Limited experienced the largest decline, losing 16.50 percent (Rs 132.00 per share). Meanwhile, the share price of Aatmanirbhar Laghubitta Bittiya Sanstha Limited increased the most, rising by 31.15 percent (Rs 969 per share).
The total turnover amount decreased by 3.80 percent, dropping to Rs 64.36 billion from Rs 66.90 billion in the previous week. The average daily turnover declined to Rs 16.09 billion from Rs 22.30 billion.
Market capitalization dropped to Rs 4.366 trillion from Rs 4.724 trillion during the review week, causing investors to face a loss of Rs 358 billion in their portfolios. In the previous week, investors lost Rs 41 billion.
