Kathmandu, September 15: The Nepal Stock Exchange (NEPSE) plunged by a whopping 33.18 points to close at a four-month low of 1,157.89 points last week. The secondary market in the past six weeks has remained bearish by losing more than 106 points.
The average daily turnover dropped to Rs 359.67 million last week from Rs 394.20 million in the previous week.
The market that opened at 1,191.07 points on Sunday fell by 12.61 points to close at 1,178.46 points. On all the rest of the trading days too, the secondary market witnessed a free fall. Overall, the market was down by 2.79 percent during the review period.
Stockbrokers said it is nothing but the low-confidence of the investors that has caused the benchmark index to continue to go down.
The sensitive index that measures the performance of blue chips companies also went down by 6.1 points to close at 253.80 points, with a downfall in share price indices of the entire trading groups.
Last week, the investors lost Rs 42.09 billion in the book value of their investment portfolio, after the market capitalisation declined to Rs 1,470.58 billion from Rs 1,512.67 billion.
During the review period, the entire 11 trading groups landed in red. The indices of life-insurance and non-life insurers plunged down by a three digit value of 241.59 points and 228.84 points respectively.
Hotels, manufacturing, hydropower, microfinance, ‘others’, development bank and commercial bank witnessed a double digit fall in their market indices. The shares prices of finance companies and trading went down by 7.2 points and 5.23 points respectively.
Last week, the stocks worth Rs1.80 billion were traded which was 8.63 percent less compared to the transaction amount registered in the previous week.