Kathmandu, April 25:

Nepali stock market gained in confidence today after King Gyanendra announced the revival of the house of representatives last night. Trading at the stock market had come to a complete halt for the last 17 days due to a strike called by the seven party alliance.

The Nepal Stock Exchange (NEPSE) index today rose by 6.66 point to 338.54 points compared to what was registered before the strike, according to the Nepal Stock Exchange Ltd (NSEL). Due to the prolonged strike and curfew, share trading did not take place for about 15 days which had created ‘confusions and uncertainty’ in the stock market, say experts.

Mukunda Dhungel, general manager of NSEL, said that the index went up today as trading took place after a long gap and confidence among buyers and investors, after the change in national politics, has been quite high. Dhungel also said that a total of 15 listed companies’ share was traded today amounting to over Rs 7.5 million. A total of 17,880 shares were traded today through 214 transactions. Pramod Bhattarai, a market analyst and deputy general manager of NSEL opined that investors and brokers were excited as normalcy returned after a long political deadlock. He also commented that investors have hoped for better.

Nava Raj Pokharel, stockbroker at NSEL, also told this daily that the rise in NEPSE index is attributed to the end of long political deadlock. The change in politics has sent a positive message to the stock market trading as investors are hoping for economic revival in days to come, opined Pokharel. There was buying pressure in today’s stock trading, he said, adding that correction in economic ills will further boost this market.

Today, Kumari Bank registered the highest share transactions amounting to Rs 22,89,660. The shares of Nabil Bank, Nepal Investment Bank, Standard Chartered Bank Nepal, Himalayan Bank, Nepal Bang-ladesh Bank, Bank of Kathmandu, Nepal Industrial and Commercial Bank, Kumari Bank, Lumbini Bank, Siddhartha Bank, United Insurance Company, Nepal Life Insurance Corporation Nep-al, Nepal Sri Lanka Merchant Bank and Butwal Finance were traded today. The total market capitalisation was worth Rs 80,365.09 million. Only 15 companies’ shares were traded today. The stock market has lost millions of rupees in transaction due to the recent curfew and strike. 700,000 shareholders have invested in 129 listed companies in the share market.