KATHMANDU: After hobbling in the past few trading days owing to confusion related to ongoing crisis, Nepal Stock Exchange (Nepse) index surged by 20.86 points or 1.92 per cent on positive political cues to land above the threshold of 1,100 points today.
After shedding 0.38 per cent to rest at 1,086.57 points on Sunday, the local bourse was in upward trajectory today and closed at 1,107.43 points by the day’s closing. The benchmark index had retreated and closed below the psychological level of 1,100 points since October 27.
News and speculations related to breakthrough in the talks with the Madhes-based agitating parties, which in turn could ease the current crisis has fuelled investors’ optimism, as per stock analysts.
Consequently, sensitive index, which gauges the performance of class ‘A’ stocks, added 4.45 points to 239.44 points. Likewise, the float index that measures the performance of shares actually traded also inched up 1.7 points to 79.03 points today.
Manufacturing and trading were the only two subgroups to hold constant at 1,913.12 and 207.97 points today. Banking led the gainers, surging by 2.72 per cent to 1,031.93 points; followed by insurance, which was up 2.13 per cent to 4,624.96 points; hotels was up 1.77 per cent to 1,828.18 points; and development banks was up 1.47 per cent to 927.04 points.
Finance inclined 0.3 per cent to 554.76 points and hydropower added 0.21 per cent to 2,006.41 points. The others subgroup, however, dipped 0.15 per cent to 765.99 points. Altogether 1,056,090 shares of 111 companies worth Rs 243.76 million were traded in the country’s only secondary market through 1,562 transactions today. A version of this article appears in print on November 10, 2015 of The Himalayan Times.
