KATHMANDU, Dec 27: Nepal Stock Exchange (Nepse) on Tuesday jumped up 59.87 points, while the daily turnover climbed to Rs 3.88 billion.
The market opened at 1,924.09 points and closed at 1,983.95 points, the highest mark in the past four months. Similarly, the daily turnover amount of Tuesday was the largest in the past five months.
After going into a bearish trend for a long period, the country’s share market showed a comeback in the first two trading days of this week. The market inclined up 116 points in these two days, while there were transactions of shares worth around Rs 6 billion.
Market ends week flat with Nepse yet to close above key 3,200 l...
According to the investors, the positive sign was observed in the Nepse with the formation of a new government. “At a time when the market has already hit some lowest levels, it is obvious to bounce back. In addition, the expectation from the new government to revive the economy has also helped steer the market into a positive mode,” said an investor.
In a meeting with the private sector on Tuesday, Prime Minister Pushpa Kamal Dahal said the government would consider the economic recovery as the main priority in the coming days. Similarly, newly appointed Finance Minister Bishnu Prasad Poudel also assured the private sector that he would take suggestions of stakeholders as a top priority.
In an instant move, Poudel also called on the umbrella organizations of the private sector that have been protesting against the government policies, for a talk. The entrepreneurs have been pressurizing the government to reduce exorbitant interest rates and to revise a number of policies including working capital loans guidelines.
On Tuesday, a total of 202 companies gained in their market prices, while eight companies lost in their share prices. The sensitive index that measures the performance of blue chips companies gained 10.59 points.
All the 13 trading groups gained in average market prices of their shares. Life-insurance added up the largest of 372.21 points in its market index, while non-life insurance, hotels and tourism and development banks gained three-digit points.
Among individual companies, Laxmi Bank Limited had the largest transaction of its shares worth Rs 209.49 million. Siddhartha Insurance was the top gainer of the day.
