KATHMANDU, March 10: The stock market witnessed fluctuations for the second consecutive day after reopening following the House of Representatives election. On Monday, trading had been halted after hitting a positive circuit breaker.
On Tuesday, the market initially rose by 36 points during pre-opening, but dropped by 91 points within minutes of trading. The market later rebounded, showing fluctuations of more than 50 points during the session.
Understanding Stock Market
Within the first hour of trading, shares worth around Rs 11 billion were traded. By 1:20 pm, the turnover had reached Rs 15.28 billion, while the NEPSE index fell by 64 points to 2,811.43 points.
While the share prices of a few companies rose, most stocks declined. The movement suggests that the market, which had surged following the election results, is now attempting to stabilize on the second trading day.
The final results of the House of Representatives election held on March 5, which followed the Gen-Z protests on September 8 and 9, are still being announced. In the direct elections, the Rastriya Swatantra Party (RSP) has secured the highest number of seats, winning 125 constituencies. Vote counting under the proportional representation system is in its final stage, with the party receiving over 5 million votes.
With RSP appearing close to a two-thirds majority and having already nominated Balendra Shah as its candidate for prime minister, the market had initially reacted with strong optimism. However, Tuesday’s trading suggests the market is now adjusting after the initial surge.
