NEPSE plunged 56.20 points while investors lost Rs 88 billion from stocks trading last week

Published On: February 24, 2024 05:49 PM NPT By: Republica | @RepublicaNepal

In the past two weeks, investors lost over Rs 142 billion from share market

KATHMANDU, Feb 24: Nepal Stock Exchange (NEPSE) lost 56.20 points last week, amid negative sentiments triggered by the current situation of public finance and provisions introduced in the revised monetary policy.

In the past two weeks after the central bank unveiled its mid-term review of the monetary policy and the government announced the reduced budget size through the mid-term review, the market has dropped over 80 points. In the previous week too, the market declined by 34.29 points.

In four days of trading last week, the market opened at 2,062.03 points on Sunday and closed at 2,005.83points on Thursday. The government announced Monday a public holiday to mark Democracy Day. During the review period, the market went as high as 2,044.45 points while it plunged to as low as 2,001.06 points, witnessing volatility of 43.39 points.

The market, with a heavy fall of 27.21 points on Sunday, started the week at a negative note. The index declined marginally by 1.76 points on Tuesday, which was followed by a fall of 6.46 points on Wednesday. On Thursday, the market again nosedived 20.76 points and closed for the week.

The total turnover amount declined to Rs 16.18 billion from Rs 20.46 billion in the previous week. The average daily turnover also decreased slightly by Rs 4.04 billion from Rs 4.09 billion.

Only the manufacturing and processing group added 232.99 points in its market index. Out of the 12 losers, non-life insurance declined the largest of 396.28 points. Percentage wise, the hydropower index fell the highest of 5.18 percent.

Among the individual companies, Samaj Laghubitta Bittiya Sanstha gained the highest of 46.39 percent of its market value. Similarly, Barahi Hydropower Public Limited had its market price declined 13.45 percent and topped among the losers.

The market capitalization fell to Rs 3.153 trillion from Rs 3.241 trillion in the previous week. It made the shares investors lose Rs 88 billion in their portfolios. In the last two weeks, the investors lost Rs 142 billion from the shares trading.