Nepal | September 29, 2020

Nepse welcomes Nepali New Year by surging past 1,400-point threshold

Himalayan News Service
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Kathmandu, April 14

The share market welcomed the Nepali New Year 2073 BS on a buoyant note, with the Nepal Stock Exchange (Nepse) index surging by 17.15 points or 1.24 per cent to overcome the threshold of 1,400 points to an all-time high of 1,405.78 points today.

Investors have been attracted to the stock market due to low interest rates of banks and financial institutions and lack of other lucrative investment alternatives. “As long as the status quo persists, the stock market may witness some marginal correction but the bull run is likely to continue,” Shreejesh Ghimire, CEO of NMB Capital, had said recently.

Apart from others and trading — which remained constant at 839.99 points and 201.38 points, respectively — all the subgroups witnessed gains today.

The country’s only secondary market had remained closed yesterday in celebration of the Nepali New Year. On New Year’s Eve also, the benchmark index had set a new record by closing at 1,388.63 points.

Altogether, 1.15 million shares of 127 companies that amounted to Rs 559.67 million (of which over Rs eight million were through manual turnover) had been undertaken through 2,623 transactions today.

The sensitive index jumped 1.27 per cent to 303.72 points and float index also rose by 1.35 per cent to 101.04 points.

A version of this article appears in print on April 15, 2016 of The Himalayan Times.

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