The Nepal Stock Exchange (Nepse) index fell by 4.99 per cent or 117.55 points week-onweek over the trading period between May 1 and 5. The stock market was open for just three days against the normal five days over the review week due to holidays on May Day and Eid.

In tandem with the benchmark index, the sensitive index, which measures performance of class 'A' stocks, fell by 3.93 per cent or 17.69 points to 432.55 points. Similarly, the float index that gauges performances of shares actually traded also took a dive of 4.97 per cent or eight points to 152.87 points.

Altogether 12.25 million shares were traded during the trading week through 93,229 transactions that amounted to Rs 4.34 billion.

The weekly turnover was more than 47 per cent lower than the preceding week when 22.57 million shares had changed hands through 168,063 transactions that totalled Rs 8.20 billion. Even though the market had opened for less number of days this week, the average daily turnover also fell by 11.7 per cent during the review period. The average daily turnover in the past week was Rs 1.64 billion and it dropped to Rs 1.45 billion this week.

The secondary market was closed on Sunday due to May Day. The benchmark index opened at 2,356.17 points on Monday and had lost 48.72 points over the course of the day to close at 2,307.45 points with a turnover of Rs 1.4 billion.

The market remained closed on Tuesday due to the festival of Eid. On Wednesday, the Nepse index decrease by 31.76 points to close at 2,275.69 points, with the daily turnover at just Rs 1.26 billion. The benchmark index remained southbound on Thursday as well as it fell by 37.7 points to settle at 2,238.62 points for the week. The daily turnover, however, was slightly higher at Rs 1.65 billion in the last trading day of the week.

Indices of all 13 subgroups landed in the red this week. The finance sub-index plunged by 8.94 per cent, hydropower by 8.33 per cent, development banks by 7.33 per cent, hotel and tourism by 6.99 per cent, life insurance by 6.76 per cent, non-life insurance by 6.48 per cent, trading by 5.73 per cent, investment by 5.73 per cent, others by 5.70 per cent, microfinance by 4.11 per cent, manufacturing and processing by 3.89 per cent, banking sub-index by 2.88 per cent and mutual funds by 1.93 per cent.

The share price of Jalpa Samudayik Laghubitta Bittiya Sanstha rose by 33.08 per cent to Rs 1520.60, becoming the week's top gainer, while Nepal Finance Ltd was the top loser. Its share price declined by 41.57 per cent to Rs 298 this week.

A version of this article appears in the print on May 08, 2022 of The Himalayan Times.