Weekly share update:Nepse plunges, investors quake
Kathmandu, October 18:
Investors should think twice before getting nervous and selling their shares even though the Nepal Stock Exchange (Nepse) index is on a bearish bent.
The market seems to be jittery as Nespe has been continuously slumping and has lost 39.68 points this week.
Nepse — after a four-day session this week unlike the regular five-day session a week — closed at 933.97 points on Thursday from 973.65 points — the last closing.
However, when the market opened after a week-long Dashain holiday it could not recover and instead shed 4.09 points on Sunday, the first day of the trading to touch another low of 969.56 points.
It dropped 12.23 points on Monday to slump to 957.33 points. Nepse did not see any transaction on Tuesday due to the holiday. However, on Wednesday, it witnessed a loss of 19.02 points to 938.39 points and closed at 933.97 points on Thursday, the last day of trading at Nepse.
Almost all major groups including banking, financial institutions and other ventures gave dismal performances, leading to the overall fall in the Nepse index.
The float index also plunged to 92.5 points on Thursday, the last day of trading.
Meanwhile, market pundits feel that the investors’ confidence might revive if the market starts surging, albeit marginally, before Tihar. There are just twelve more days to go for the festival.