Nepse recorded a three-year high of 536.51 points today.
The Nepse had surged past 500 points last week on a positive political cue. Since then, share prices have steadily increased. The possibility of a new government being formed through political consensus has investors scrambling for shares. After the initial surge, more investors poured in, further pushing the index up. The index had reached this height in January 2010.
Today, all the subgroups were able to register gains. The banking subgroup was the biggest earner of the day, gaining 15.88 points. Major commercial banks — Bank of Kathmandu, Everest Bank and Standard Chartered Bank — registered gains. Likewise, as Nepal Telecom's share price jumped by Rs seven per unit, the others subgroup also went up by 7.05 points.
Likewise, development banks, finance companies and insurance companies also went up by 0.06 points, 4.33 points and 2.34 points, respectively.The recent surge in the index has also increased the daily turnover and number of shares traded daily. Today, 505,882 shares worth Rs 191.5 million of 81 companies were traded. In earlier weeks, average daily turnover used to be at around Rs 70 million.