KATHMANDU, May 24: Nepal Stock Exchange (Nepse) index rose by 12.93 points or 3.35 percent to end at 398.59 points Thursday, triggering a circuit breaker.
The benchmark Nepse had dropped by 20.42 points to 385.66 points, following the government decision to extend the deadline for drafting new constitution by three more months, on Wednesday.
“We have seen the impact of fast moving political changes in the country in the capital market. The surge in Nepse index Thursday is the demonstration of optimism among investors about the timely promulgation of the constitution amid widespread protest against the proposed three-month extension of the CA term,” said a share analyst.
On Thursday, sub-indices of all sectors except for Development Bank witnessed rise with Others sector being the highest gainer.
The dominant Banking sector, which represents the commercial banks, gained 4.55 percent or 16.42 points to 377.57 points. Similarly, sub-indices of Hotels and Hydropower sectors also move to the green zone after going up by 0.19 points and 10.09 points to 447.24 points and 646.06 points respectively.
Finance, Insurance and Others sectors also saw a rise in their indices by 0.37 points, 2.62 points and 24.67 points, respectively, to close at 271.99 points, 498.67 points and 565.14 points respectively. However, Development Bank sector, suffered marginally by losing 1.74 points to settle at 270.54 points.
With the double-digit rise in Nepse index, total market capitalization -- total value of listed shares -- reached to Rs 376.41 billion. During Thursday´s session, Nepse reported a total turnover worth Rs 88.16 million with 284,160 shares traded through 1,737 transactions.