Nepse begins week on upbeat note My Republica
KATHMANDU, June 28 Stocks climbed higher in the morning with the Nepal Stock Exchange (Nepse) index advancing more than 30 points higher. A sharp pullback dragged the index towards negative territory at mid-day. However, with buyers gaining control in the latter part of the session, Nepse saw a steady advance in the afternoon. Nepse finished Sunday s trading slightly off its intraday high at 2,870.18 - down 27.17 points against the session earlier.
After two days of decline, Nepse saw a small rebound on Sunday. Nonetheless, with investors taking cautionary stance of late, turnover has remained on the lower side of the spectrum. Only Rs. 7.17 billion worth of equities changed hands.
Nepse at fresh peak thehimalayantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehimalayantimes.com Daily Mail and Mail on Sunday newspapers.
The Nepal Stock Exchange (Nepse) index jumped by 1.3 per cent or 38.32 points to rest at 2,983.10 points today. In doing so, the benchmark index breached the earlier record of 2,960.15 points set on June 8.
Royal Acharya
May 28, 2021
Comments
As Covid-19 has limited investment opportunities in Nepal, a lot of people have resorted to investing in stocks. Even though there were initial fears that the market might crumble due to the lockdown, the exact opposite has happened. When the government reopened the stock market in May 2020, the Nepse index stood at 1,200. On Monday (May 23) the index reached as high as 2,823, the highest it has ever reached as there were trades in excess of Rs 13 billion. That record was soon broken as on Thursday (May 27), Nepse closed at 2,815 while turning over Rs 14.7 billion.
While various other industries continue to suffer due to the pandemic, the stock market seems to have thrived. But, why?
Highest daily turnover as Nepse sets new record thehimalayantimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehimalayantimes.com Daily Mail and Mail on Sunday newspapers.