KATHMANDU, Jan 30: Nepal Stock Exchange (Nepse) gained a whopping 105.55 points on Sunday after the political parties reached consensus to hold the elections of local governments by mid-June this year.
The secondary market that opened at 2,780 points on the first trading day of the week soared 98 points within a few minutes of the commencement of trading. The market fell as low as 2,842.96 points before it escalated to close at 2,885.53 points.
Nepse hits 2-year high after week's broad surge
The market that plunged 151.36 points last week gained three digit points in a single day trading. According to a stockbroker, the market was boosted due to an improved confidence of investors caused by the recent political development. Wiping out the uncertainty, a meeting of the ruling alliance held at the Prime Minister's official residence in Baluwatar on Saturday decided to hold the local level election by mid-June.
Along with the Nepse index, the transaction volume also increased to Rs 6.32 billion in intraday trading. The traded amount was less than Rs 4 billion on Thursday.
The indices of the entire 13 groups posted green on Sunday. While the average prices of nine groups escalated by three-digit values, ‘others’ and banking added two digits point value to their indices.
Among the individual companies, Nepal Infrastructure Bank Limited with an increasing 10 percent in its shares’ price was the top gainer. With a drop of Rs 30 per unit its scrip’s price, Manjushree Finance Limited Debenture 2085 was the top loser.
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