The stock
market today reacted positively to the election of Nepali Congress president Sushil
Koirala as the new prime minister of the country.
The Nepal
Stock Exchange (Nepse) index crossed 800-point mark after almost two months on
the election of democrat for the top job of the country.
The Nepse
surged by 19.13 points or 2.44 per cent to close the market today at 803.13
points, after Koirala received overwhelming support to lead the new government.
As the
uncertainty ended with the election of the prime minister, the index shot up by
over three per cent – for the first time – attracting circuit breaker and and
four per cent – for the second time – again attracting circuit breaker.
The market
confidence also boosted due to liberal government in offing.
The investors started
offloading to book the profit as the market started looking up. With the heavy
buying and selling of stocks, the Nepse today witnessed some Rs 400.97 million
worth transaction in a day.
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