Nepal Stock Exchange (Nepse) surged 27.28 points on Wednesday after India released Nepal-bound oil tankers amid fears of a blockade by the southern neighbour.

Despite the promulgation of the new constitution, the share market tumbled nearly 40 points on Tuesday on rumours that India was preparing to impose a blockade.

Anjan Raj Poudel, managing director of Thrive Brokerage House, said the release of the oil tankers and clarification by various authorities that the blockade was not imposed boosted the investor confidence. “There was buying pressure on Wednesday, he said.

The market that opened at 1,155.62 points increased successively throughout the trading hours before closing at 1,183.36 points.

All the trading groups posted gains. Insurance was the top gainer (up 101.92 points), followed by hotels, commercial banks and hydropower. 

The market turnover amounted Rs498.81 million. Citizens Bank International witnessed the biggest individual turnover of Rs73.35 million.