Though, the economy is in tatters due to global corona crisis, and the political situation has also not been looking good due to intra-party fight in the ruling Nepal Communist party (NCP), the share market – that is considered a barometer of economy – has been creating record trasactions everyday.
The Nepal Stock Exchange (Nepse) – that has started looking up since the appointment of new finance minister Bishnu Poudel – went up by 2.08 per cent or 36.32 points to land at 1,778.12 points today. Not only it looked up today, Nepse also witnessed the historic record turnover of Rs 6.11 billion through trade of14, 062,507 units of shares of 198 listed firms with 56,341 transactions.
The share market is rejoicing after the ouster of the earlier finance minister Dr Yuba Raj Khatiwada, who has been appointed Nepal’s ambassodar to the US, market analysts claimed, adding that the secondary market has been in ‘wait and watch’ mood due to Khatiwada’s share market unfriendly behaiviour.
The new finance minister is open and share market friendly, the market analysts said, adding that the market expects the finance minister to be more flexible towards secondary market.
The market today witnessed a positive circuit break in first hour of the trading time, whereas the sensitive index also went up by 1.47 per cent or 4.98 points to close the market at 343.07 points. Likewise, the float index also increased by 1.58 per cent or 1.58 points to close the market at 120.99 points today. Among all the subgroups, the trading subgroups increased by 9.94 per cent or 198.4 points to close at 2,193 points and hotels subgroup has hiked by 9.38 per cent or 181.63 points to close at 2,118.59 points.
Similarly, manufacturing subgroup increased by 5.64 per cent or 204.73 points to 3,833.87 points and others sub-index rose by 4.43 per cent or 58.15 points to 1,370.69 points.
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