Nepse loses 17.7pts to close at 1,348Nepal Stock Exchange (Nepse) index shed 17.7 points to close at 1,348.45 points last week, as investors wait for the government’s annual budget announcement on May 29.
Nepal Stock Exchange (Nepse) index shed 17.7 points to close at 1,348.45 points last week, as investors wait for the government’s annual budget announcement on May 29.
The market that opened at 1,366.15 points on Sunday declined 12.51points to close at 1,353.64 points. On Monday too, the market slid 8.25 points and closed at 1,345.37 points.
The market however gained 15.65 points on Tuesday before by 4.87 points and 7.7 points on Wednesday and Thursday respectively. As a result, the market closed 1.29 percent lower.
Stockbrokers attributed the fall in Nepse to the reluctance of the investors amid banks’ high interest rate and the upcoming budget. “The banks are still unwilling to reduce the interest rate despite the ease in availability of loanable fund. Investors are also looking forward to the budget announcement to make their next move at the secondary market,” said a stockbroker under condition of anonymity.
The sensitive index that measures the performance of Group ‘A’ companies also went down 3.7 points to close at 284.59 points with all trading groups dropping points.
Along with a fall in the market index, the average value of the shares listed on the stock market also plunged by Rs20.76 billion, as the market capitalisation reached to Rs1,582.34 billion from Rs1,603.10 billion over the week.
The indices of all 10 trading groups lost points during the period. Insurance lost the largest of 86.77 points to close at 7,011.76 points. Index of hotels fell 70.98 points, hydropower 37.71 points, manufacturing 26.46 points and development banks fell 23.46 points.
Likewise, microfinance lost 14.72 points, commercial bank lost 13.35 points, ‘others’ lost 12.58 points, finance companies lost 9.02 points and trading lost 5.83 points.
Of the individual companies, Butwal Power Company Limited led in terms of transaction amount with Rs127.34 million.
Likewise, Civil Bank Limited recorded transactions worth Rs103.05 million to finish in second position. It was followed by Nepal Life Insurance Company, National Life Insurance Company and Nepal Bank Limited.
Civil Bank also led in terms of number of traded shares. A total of 638,000 units share of the bank were traded last week.
Last week, stocks of 181 listed companies were traded. Despite a fall in the market index, the transaction amount rose 27.76 percent to Rs2.19 billion. The traded number of shares also increased to 4,812,770 units from 3,244,500 units.