Nepse drops by over 33 pts

The worst fears of market analysts came true as stock trading was suspended three times with the Nepal Stock Exchange (Nepse) index falling a stark 33.25 points over the week.

The stock market recorded a steep fall of 66.7 points in the first four days of this week, proving right trade analysts who had predicted that the overheated market may not be sustainable. But it slightly recovered to gain 28.41 points on Thursday, the last day of trading, closing in at 866.13 points – making it clear that the stock market is experiencing a roller-coaster ride.

The week opened with the Nepse index on 899.42 points, but by Wednesday it had gone down to 837.72 points, following which Nepse authorities intervened and suspended trading thrice over the week.

Reports said that on Monday and Tuesday, Nepse halted trading as its index went down by more than 25 points while on Thursday the operator enacted the new directive after it gained more than 25 points.

Nepse data shows that the total turnover stood at Rs 385.1 million this week with 740,764 units of shares being traded. nepalnews.com ag Oct 14 07

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