NEPSE Falls 0.66% in a Week, Investors Lose Rs 29.9 Billion
The Nepal Stock Exchange (NEPSE) declined 17.41 points (0.66%) last week, erasing Rs 29.9 billion in investor wealth, as fears over incessant rainfall and recent floods weighed on sentiment. The market was closed Monday due to a ransomware attack and halted Friday because of unusual weather.
KATHMANDU, Sept 26 — The Nepal Stock Exchange (NEPSE) fell 17.41 points (0.66 percent) last week, as investors worried about potential damage from incessant rainfall forecast for the weekend, coming just a month after the Bhotekoshi-Trishuli floods.
The secondary market opened at 2,647.22 points and closed at 2,629.81 points in a three-day trading week. The NEPSE remained closed on Monday due to a ransomware attack, while trading was halted on Friday because of unusual weather conditions. During the period, the market rose as high as 2,671.04 points and fell as low as 2,605.32 points, a volatility of 65.72 points.
This marked the third consecutive week of decline for the stock exchange. In the previous two weeks, the market had increased by a combined 16.72 points (0.66 percent).
During the review period, the market gained on Tuesday and Thursday, while it corrected by 36.25 points on Wednesday.
Sector-wise performance:
- Manufacturing and processing surged by a notable 120.78 points, as there was no trading of mutual fund schemes.
- Of the 11 losers, the non-life insurance index slumped 164.37 points (1.68 percent), the largest decline of all.
Among individual companies, shares of CYC Laghubitta Bittiya Sanstha gained 9.40 percent, while Infinity Laghubitta Bittiya Sanstha lost the most, falling 10.80 percent.
The average daily turnover increased to Rs 6.285 billion from Rs 6.123 billion, a growth of 2.65 percent. However, market capitalization fell to Rs 4.523 trillion from Rs 4.553 trillion, causing investors to lose Rs 29.9 billion in book value. In the previous week, investors had secured capital gains of Rs 150.9 billion.