Stock market index crosses 450-point mark

KATHMANDU, Oct 31: Nepal Stock Exchange (Nepse) crossed 450-point mark to hit 451.43 points for the first time in over two years on Wednesday, as investor confidence that started growing since the opening of the market after Dashain vacation on Tuesday continued to buoy for the second consecutive day.



The benchmark index had last risen to this level on August 16, 2010 when the index closed at 453.4 points.[break]



On Wednesday, the benchmark index gained 3.6 points, or 0.8 percent, due to gains made by stocks of banks, other financial institutions, hydropower companies and insurers.



Although the growth was miniscule, trading amount that touched Rs 58.35 million was considered impressive by many.



The biggest gainers of the day were Himalayan General Insurance, Ace Development Bank, Nepal Credit and Commerce Bank, Supreme Development Bank and Surya Life Insurance.

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