Nepal Stock Exchange last week slid marginally by 0.39 points to close at 1,149.01 points with weak investor appetite for stocks during Dashain, the biggest festival for Hindus.

The stock market opened for a single day on Thursday following the end of official Dashain holidays and lost 0.03 percent. During the single day of trading last week, the secondary market saw 232,619 units of shares being traded worth Rs63.84 million.

In the weeks leading up to the festival, the country’s only stock exchange had been reeling under the bearish trend. As a result, the daily turnover volume averaged Rs200 million.

Bharat Ranabhat, president of Stockbrokers’ Association Nepal, said investors turned apathetic to the stock market due to the festive mood. “At a time where the market is undergoing a bearish trend, investors were reluctant to purchase shares,” said Ranabhat.

The sensitive index that measures the trading of shares of blue chips companies also slid 0.04 points to close at 251.93 points despite a nominal rise in the sub-index of commercial bank, which holds the lion’s share of market capitalisation.

Out of 11 trading groups, five went down during the review period. Life insurance lost the largest of 45.13 points. It was followed by ‘others’, manufacturing, microfinance and hotels. Of the five gainers, non-life insurance added up 7.42 points in its index. Finance companies, development banks, commercial banks and hydropower were listed in the gainers’ row. With having no transaction in its segment, the sub-index of trading remained stable at 292.51 points.

The market capitalisation also declined to Rs1,459.68 billion from Rs1,460.18 billion. This made investors lose Rs500 million in the book value of their investment portfolio.

Last week, Prabhu Bank witnessed the largest transaction amount of Rs25.50 million. Siddhartha Bank, Mahalaxmi Bikas Bank, Nepal Investment Bank and Sunrise Bank were among the top five companies in the segment.

Likewise, promoters’ shares of Rastriya Beema Company lost the most value, dropping Rs99 per unit to close at Rs7,490 per unit. Bottlers Nepal (Balaju) Limited added Rs70 per unit in its shares’ price to close at Rs1,830 per unit.