Political uncertainty hits Nepse

KATHMANDU, May 16: Reversing the impressive gain recorded during last week´s trading, Nepal Stock Exchange (Nepse) index lost by a whopping 3.77 percent of 17.27 points to close at 440.54 points on Sunday, the first day of the week´s trading, thanks to deepening political crisis in the country.



Stock analysts said there were no other reasons than the worsening political uncertainty behind the double-digit loss in the benchmark index on the day. [break]



Nepse index had gained an impressive 44.79 points last week, shooting up from 413.02 points recorded when the market opened last Sunday.



During the days´ trading, sub-indices of all the trading groups, except the Insurance, went down. Banking, the dominant group in the secondary market, lost 1.92 points to close at 407.53 points. Similarly, the Development Bank and Hydropower groups saw their sub-indices do down by 12.11 points and 7.28 points to settle at 44.3.41 points and 654.64 points respectively.



Similarly, the sub-indices of Hydropower and Finance groups also dwindled to 420.54 points and 540.48 points, losing 3.69 points and 16.44 points respectively. However, Insurance group gained nominally by 0.77 points to close at 556.35 points.



A total 60,701 units of shares and 71 scrips worth Rs 25.37 million changed hands through 776 transactions on the day. Total market capitalization - total worth of listed shares in the secondary market - was recorded at Rs 342.66 billion.

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