Nepse jumps 48 points

Published On: March 27, 2017 10:55 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, March 27: Nepal Stock Exchange (Nepse) index climbed up 47.79 points, or 3.22 percent, on the first trading day of the week to close at 1,533.83 points. 

The stock market logged double-digit gain, ending a long slump in the market due to sell-off triggered by rising interest rates and tightening of credits by bank and financial institutions (BFIs). 

After reaching a record high of 1,881.45 points on July 29 last year, the stocks are taking a dive, with some occasional rallies, after BFIs started tightening their fund toward stock financing. The average daily turnover in the stock market was also falling by half to Rs 400 million to Rs 500 million. However, the daily turnover jumped to Rs 1.76 billion on Sunday.

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