Although leading political parties are yet to agree on consensus prime ministerial candidate, their decision to initiate talks on ending the political crisis was praised by stock investors, a stockbroker said. [break]The buoyant mood pushed the Nepal Stock Exchange (Nepse) index to over one-month high of 532.92 points on Tuesday. This added Rs 17.48 billion in market capitalization in the stock market.
Tuesday´s market rally was led by the banking and hydropower sectors. The banking sub-index jumped 23.27 points, or 4.65 percent, to end at 523.14 points.
Demand for bank stocks have gone up lately as first half financial results published by most of the banks show increment in profit level, a stockbroker said.
Hydropower sub-index, on the other hand, gained 31.48 points, or 3.18 percent, to end the day at 1020.3 points. All other sub-indices also ended the day in the green zone.
Tuesday´s top gainer was Nepal Life Insurance Company which saw 9.95 percent hike in its share value to Rs 1,867. Second in the league table was Grand Bank, whose shares got a 9.9 percent boost to Rs 211.
Close on the heels was Sunrise Bank, which saw 9.9 percent rise in share value to Rs 222. NMB Bank and Gurans Life Insurance also gained 8.61 percent and 7.91 percent to Rs 290 and Rs 150, respectively.
As investor confidence soared, the share trading amount on the stock market also soared to Rs 238.07 million on Tuesday.
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