KATHMANDU, May 21: Nepal Stock Exchange (Nepse) plunged 115.33 points last week amid ongoing low confidence among investors.
The market opened at 2,350.42 points on Tuesday and closed at 2,235.09 points on Friday. In the four-day transaction during the review period, the market declined by 4.9 percent.
Nepse plunged 23.34 points, while investors lost Rs 35 billion...
It is the first time that the secondary market witnessed full transaction of shares on Friday after the government implemented two weekend days on public services into effect from last week. But the market responded poorly on Friday as many investors were not aware of the revised schedule for trading at the secondary market, according to Ambika Prasad Paudel, former chairman of Nepal Investors’ Forum.
On Tuesday, the market nosedived by 84.9 points. However, the market bounced back marginally by 8.9 points on Wednesday before declining by 23.51 points and 15.82 points on Thursday and Friday, respectively.
The turnover amount stood at Rs 5.192 billion, down from Rs 8.54 billion in the previous week. The market capitalization also declined to Rs 3.179 trillion from Rs 3.343 trillion, making investors face a loss of Rs 164 billion in their book value.
