Nepse gains over 22pts to 1,109Nepal Stock Exchange (Nepse) jumped 22.72 points to close at 1,109.29 points last week on speculations that India would be easing the unofficial trade embargo on Nepal.
Nepal Stock Exchange (Nepse) jumped 22.72 points to close at 1,109.29 points last week on speculations that India would be easing the unofficial trade embargo on Nepal.
The secondary market that opened at 1,086.57 points increased 20.86 points in a single day on Monday. In a three-day trading, the market surged 1.86 points on Tuesday.
Anjan Raj Poudel, managing director of Thrive Brokerage House, attributed the rise in index to the rumours that the southern neighbour would be easing the trade embargo imposed since September 22.
Despite an increase on Nepse, the transaction volume dropped to an average of Rs 2 million per day.
Poudel said the fall in transaction was due to the investors switching on to the primary share of Hydroelectricity Investment and Development Company that was issued previous week.
“Expectations of dividend, with a number of companies closing their books, have also led to the fall in buying pressure in the market,” he added.
Of the nine trading groups, insurance top the gainers’ list at 132.32 points, followed by hotels, commercial banks, development banks, hydropower companies and finance companies. The index of the ‘others’ fell 7.05 points.
Similarly, the sensitive index that measures the performance of blue chips companies also increased by 4.61points to close at 239.60 points. There was transaction of Rs 628.03 million out of 1,839,939 shares traded in the three days.