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Nepal Stock Exchange (NEPSE) last week declined 28.92 points (1.08 percent) amid the investors’ weak confidence towards gaining political stability even after the conduct of the general election scheduled on March 5.

Trading took place only for two days at the country’s secondary market last week, with the government declaring a public holiday on Sunday to observe Maha Shivaratri, while public holidays were declared also on Wednesday and Thursday to mark Gyalpo Lhosar and National Democracy Day, respectively. The secondary market opened at 2,671.07 points on Monday while it closed at 2,642.15 points on Tuesday.

With a fall of 8.16 points, the market opened for the weekdays at a negative note on Monday. On the following day, the market lost 20.75 points.

Sector-wise, only mutual funds by adding 0.28 percent in its market price stood as gainer. Of the 12 losers, hydropower shedded the highest of 2.64 percent, followed by the development banks with a decline of 1.65 percent.

Regarding the individual companies, Ridi Power Company Limited with turnover of its shares worth Rs 1.18 billion was the topmost in the segment. Narayani Development Bank Limited stood as the topmost loser by shedding 11.38 percent in its market value. Salapa Bikas Bank Limited gained 21 percent, the highest of all.

The total turnover amount stood at Rs 16.30 billion in two-day trading. The average turnover decreased to over Rs 8.15 billion from Rs 10.16 billion.

In the review period, the market capitalization decreased to Rs 4.444 trillion from Rs 4.484 trillion, making investors face a loss of Rs 40 billion in their book values. In the previous week, the loss amount was recorded at Rs 63 billion.