Hydropower companies failed to attract shares investors last week; sub-index plunged 197.01 points

Kathmandu: Hydropower group last week plunged 197.01 points in the country’s secondary market. The market index of the group opened at 2,738.67 points and closed at 2,541.66 points. It went into a straight fall throughout the trading days, losing 7.19 percent of its average market value to close for the week.

Out of the 13 trading groups, hydropower was one of the eight losers that witnessed a three-digit point fall in its index during the review period. According to stockbrokers, the market sustained the combined effects of midterm review of monetary policy by Nepal Rastra Bank and the recently revised annual budget by the government. While the monetary policy could not bring in notable measures to reduce the exorbitant interest rates, the revised annual budget cut off the government’s earmarked expenditure, which posts the poor performance of the economy, said the stockbrokers.

During the review period, Nepal Stock Exchange fell by a notable 112.22 points to close at 2,070.41 points. The share investors lost Rs 162 billion from transactions.