KATHMANDU, March 16: Nepal Stock Exchange (NEPSE) added 50.32 points last week, with the banks stepping up to reduce their interest rates from mid-March.
The market, which had been in bearish trend for the past few weeks, started to show its comeback after the formation of a new government. In the previous week, the index increased by around 58 points.
Last week, the market opened at 2,030.55 points on Sunday and closed at 2,080.87 points on Thursday. During the four days of trading due to a public holiday on Monday to mark the Gyalpo Lhosar, the market went as high as 2,123.91 points while it plunged to as low as 2,032.58 points, witnessing a volatility of 148.24 points.
The market started the week with a notable gain of 22.10 points on Sunday. On Tuesday, the market surged by a whopping 58.55 points. On Wednesday and Thursday, the market fell by 2.48 points and 27.84 points, respectively.
The total turnover amount inclined to 15.66 billion from Rs 13.22 billion in the previous week. The average daily turnover also increased to Rs 3.91 billion from Rs 2.64 billion.
Except for the index of the hydropower group that went down 21.94 points, the indices of the remaining 12 groups inclined up. Life insurance had its index grow by 479.71 points while microfinance, non-life insurance, hotels and tourism, and manufacturing and processing added three-digit points.
The market capitalization increased to Rs 3.270 trillion from Rs 3.191 trillion in the previous week. It made the shares investors gain Rs 79 billion in their portfolios. In the previous week, the investors gained Rs 92 billion.
Read More: NEPSE gained 50.32 points while investors gained Rs 79 billion from stocks