KATHMANDU, May 7: A total of 167 billion rupees has been cleared from the secondary market amid the continued fall in equity trading on the Nepal Stock Exchange (Nepse) last week.
According to Nepse, equity investors lost the aforementioned amount in their book value after the market capitalization fell by 4.98% to Rs 3.184 trillion during the reporting period. Similarly, the total amount of revenue also fell by 47.02% to 4.34 billion rupees.
Last week, the stock market index fell by 117.55 points, or 4.99%. The market opened at 2,356.17 points and closed at 2,238.62 points. Nepse had gained 30.72 points the previous week, posting an average weekly gain after a month, which had revived some hope among investors in the country’s only stock exchange.
In a three-day trading session last week, the market plunged double-digit points across all trading days. On Monday, the market fell 48.73 points while falling 31.76 points and 37.06 points on Wednesday and Thursday, respectively.
The financial companies sub-index saw the biggest decline of 8.94% in their stock prices. Among individual companies, Arun Valley Hydropower Development Company completed a transaction of its shares worth Rs 134.51 million, the highest of all.
Similarly, Jalpa Samudayik Laghubitta Bittiya Sanstha gained the biggest 33.08% in its share price. Nepal Finance Limited, with a fall of 41.57%, was the big loser last week.