Published On: February 7, 2023 06:35 PM NPT By: Republica | @RepublicaNepal
KATHMANDU, Feb 7: Nepal Stock Exchange (Nepse) on Tuesday surged 76.64 points in the aftermath of the improved macroeconomic indicators unveiled by Nepal Rastra Bank (NRB).
The secondary market opened at 2,100.70 points and moved in the straight upward graph throughout the trading period. The market finally closed at 2,177.34 points.
According to the stockbrokers, the Nepse index gained a whopping surge after NRB on Monday published the Current Macroeconomic and Financial Situation Report of Nepal for the first six months of the current fiscal year. The report shows that the country’s balance of payments remained at a surplus of Rs 97.10 as of mid-January, which will be sufficient to cover the merchandise and services imports of 9.1 months.
“With a hope that the banks’ interest rate might come down due to the growing BoP surplus, investors flung to purchase shares,” said a stockbroker on condition of anonymity.
Along with a notable rise in Nepse, the daily turnover also increased to Rs 3.362 billion from Rs 1.474 billion on Monday.
A total of 215 companies gained in their market value, none were the losers. The sensitive index that measures the performance of blue chip companies also increased 12.72 points.
All the 13 trading groups posted gains in their market prices. While seven groups had their market value increased by three-digit points, life-insurance topped the lists by adding 467.26 points in its market price.
Among individual companies, the shares of NIC Asia Bank posted the largest transaction amount worth Rs 129.24 million. Barun Hydropower Co Ltd was the biggest gainer, while ICFC Finance Limited Debenture 2083 lost the highest percent of its market value.
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