NEPSE jumps up 117.70 points; market closed midway after index rises 6 percent
KATHMANDU, March 4: Nepal Stock Exchange (NEPSE) on Monday skyrocketed by adding 117.70 points, while the market faced three positive circuits and closed in the midway of trading hours.
According to stockbrokers, the market went through high volatility after the government stepped up for a new coalition and a new finance minister is likely to assume office shortly. In the fresh political development, Prime Minister Pushpa Kamal Dahal has joined hands with the CPN-UML and Rastriya Swatantra Party to form a new government.
Understanding Stock Market
In the intraday trading, the market opened at 1960.30 points and closed at 2,078 points. The authority slapped the first circuit breaker and halted trading for 20 minutes after the index surged by four percent in just three minutes of trading.
The second circuit breaker was imposed when the index surged five percent in just one minute after the trading resumed. The market was then closed for 40 minutes. Similarly, the third circuit breaker was announced and the authority closed the market for the remaining trading hours after the index surged six percent following the resumption for trading the third time.
The sensitive index that measures the performance of ‘A’ class companies surged a whopping 19.54 points. The daily turnover stood at Rs 375.20 million.
Except mutual funds that lost 0.01 points, all the remaining 12 groups had their indices escalated upward. Out of the gainers, 10 achieved additional three-digit points.
Among individual companies, 230 were recorded as gainers whereas only two were the losers.
Sonapur Minerals and Oil Limited with a total transaction of its shares worth Rs 45.03 million led the segment. Ridi Power Company Limited was the top gainer while NMB Sulav Investment Fund-2 lost the highest of 1.95 percent of its market value.
