Nepse drops 10.09 points as market plummets again
KATHMANDU, JUL 04 -
The stock market last week plunged the way it rallied in the previous week. The optimism that the market would bounce back after a long downward spiral was short-lived, prompting uncertainty in the market.
The Nepal Stock Exchange (Nepse) index last week dropped 10.09 points to close at 336.68 points on Thursday, the last trading day. The market had opened at 346.77 points on the first day of trading, Sunday. Although the market witnessed a marginal improvement in the last two days, it could not neutralise the heavy decline the market saw in the first two days of trading.
Indices of the groups represented by hydropower companies and commercial banks were in the forefront in both leading the capital market to a sudden rise in the previous week and bringing it down last week.
The hydropower group declined 24 points, while commercial banks dropped 19.96 points last week. However, the market index is still well above 300 points mark which had nosedived to as low as 192.32 points on June 15.
With the sign of downfall in the market index last week, the amount of transaction also declined sharply. The Nepse had realised a turnover of Rs 71.5 million in a single day on June 23, the last trading day of the previous week. The figure has now come down to Rs 26.31 million on Thursday. The size of the transaction was still as high as Rs 59.23 million on Sunday, but a freefall began thereafter. The overall transaction last week remained at Rs 126.17 million, a decline by 23.78 percent from the previous week’s Rs 165.54 million. Bank of Kathmandu topped the charts in terms turnover (Rs 22.41 million) and the number of transactions (308), while NCM Mutual Fund took the pole position in terms of the number of shares traded (133,010 units).
Ordinary shares of Purnima Development Bank and bonus shares of Nerude Micro-Finance Institute and Bhrikuti Development Bank were listed in the NEPSE last week.
Source: Kantipur
The stock market last week plunged the way it rallied in the previous week. The optimism that the market would bounce back after a long downward spiral was short-lived, prompting uncertainty in the market.
The Nepal Stock Exchange (Nepse) index last week dropped 10.09 points to close at 336.68 points on Thursday, the last trading day. The market had opened at 346.77 points on the first day of trading, Sunday. Although the market witnessed a marginal improvement in the last two days, it could not neutralise the heavy decline the market saw in the first two days of trading.
Indices of the groups represented by hydropower companies and commercial banks were in the forefront in both leading the capital market to a sudden rise in the previous week and bringing it down last week.
The hydropower group declined 24 points, while commercial banks dropped 19.96 points last week. However, the market index is still well above 300 points mark which had nosedived to as low as 192.32 points on June 15.
With the sign of downfall in the market index last week, the amount of transaction also declined sharply. The Nepse had realised a turnover of Rs 71.5 million in a single day on June 23, the last trading day of the previous week. The figure has now come down to Rs 26.31 million on Thursday. The size of the transaction was still as high as Rs 59.23 million on Sunday, but a freefall began thereafter. The overall transaction last week remained at Rs 126.17 million, a decline by 23.78 percent from the previous week’s Rs 165.54 million. Bank of Kathmandu topped the charts in terms turnover (Rs 22.41 million) and the number of transactions (308), while NCM Mutual Fund took the pole position in terms of the number of shares traded (133,010 units).
Ordinary shares of Purnima Development Bank and bonus shares of Nerude Micro-Finance Institute and Bhrikuti Development Bank were listed in the NEPSE last week.
Source: Kantipur
