Kathmandu, September 8 : The Nepal Stock Exchange last week i.e from September 1 to 5 slid marginally by 0.45 percent (5.35 points) to settle at 1,191.07 points.
It was the fifth week that the benchmark index witnessed a free-fall with a cumulative decline of 73 points.
Despite the downswing in the market, the average daily turnover rose to Rs 394.20 million last week from Rs 324.97 million in the previous week.
In the review week, the market that opened at 1,196.42 points on Sunday fell 11.63 points to close at 1,184.79 points. On Monday too, the secondary market shed 14.45 points followed by the gains of 20.57 points and 3.86 points on Tuesday and Wednesday respectively.
The market took an upward move in these two days after the CDS and Clearing Limited issued a notice that it had launched new software allowing the investors to calculate and submit the capital gains via online. Previously, the investors themselves had to visit the stockbrokers’ offices for the purpose.
On Thursday, the local bourse, however ,fell by 3.7 points. Overall, the market was down by 0.45 percent during the review period.
Stockbrokers said the investors who wish to benefit out of the low prices of stocks were seen to increase their investment to recover their losses in the past few weeks.
The sensitive index that measures the performance of blue chips companies also went down 1.35 points to close at 259.90 points because of a downfall in the sub-indices of the majority of trading groups.
Last week, investors lost Rs 6.79 billion in the book value of their investment portfolio, after the market capitalisation declined to Rs 1,512.67 billion from Rs 1,519.46 billion.
A total of eight out of 11 trading groups observed downswing in their indices. The sub-index of life insurance saw the biggest loss as it dropped by 103.35 points to close at 5,388.44 points.
The sub-indices of hotels, manufacturing, hydro-power and ‘others’ went down by double digits. Micro-finance, finance companies and non-life insurance were among the fair losers, which witnessed their sub-indices dropping by marginal values.