Nepse plunged 53.62 points, while shares investors lost Rs 70 billion last week

Published On: March 4, 2023 07:42 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, March 4: Nepal Stock Exchange (Nepse) last week lost 53.62 points, due to combined impacts of the political turmoil, anomalies surfaced in microfinance companies and high interest rates of banks.

The secondary market opened at 2,022.64 points on Sunday and closed at 1,969.02 points on Thursday. During the review period, the market soared as high as 2,042.95 points and as low as 1,969.02 points. Overall, the market witnessed volatility of 73.93 points.

On Sunday, the market increased nominally by 4.55 points. However, the market index dropped throughout the remaining days.

On Monday, the market fell by 3.65 points, followed by a decline of 3.61 points on Tuesday. On Wednesday and Thursday, the market plunged by 24.44 points and 26.47 points respectively.

According to stockbrokers, the country’s stock exchange market has been affected by a bleak economic situation, new political development and banks reported to be sustaining increasing bad loans.

Except for hotels and tourism, the remaining 12 trading groups lost in their average share prices last week. Of the losers, life insurance, manufacturing and processing and microfinance lost three digit points.

The total turnover grew to Rs 8.431 billion from Rs 6.273 billion in the previous week. The average daily turnover fell to Rs 1.686 billion from Rs 2.091 billion. Market capitalization also declined from Rs 2.914 trillion to Rs 2.844 trillion. 

Among individual companies, Himalayan Distillery Limited had the largest transaction of its shares worth Rs 322.06 million. Global IME Laghubitta Bittiya Sanstha Limited was the topmost loser. Likewise, Samling Power Company Limited gained the highest percent in its market price.


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