Nepse crosses pshycological 700-point mark
Successful completion of Constituent Assembly (CA) polls, expectation of liberal government in the power, excess liquidity with the banks and financial institutions and boosted investors confidence have pushed the share market index to over psychological 700-point today.
The Nepal Stock Exchange (Nepse) index recorded 700.8 points today on high confidence of the investors. The four-and-a-half years' high Nepse also attracted circuit breaker twice as it zoomed up on the by 23 points or 3.4 per cent to close the market at 700.8 points.
Though, the formation of government has not yet been finalised, the investors with excess liquidity and expectation of liberal government rode as high as 700 points after almost five years after it had dropped to the record low of 295 points some one-and-a-half year ago.
The index that touched 1,175 points in August 2008 had dropped to 295c points due to hardliner communist party UCPN-Maoist's policy confusion.
likewise, the excess liquidity in the market has also fuelled the trading at the stock market that witnessed a record Rs 523.33 million turnover today. Almost all the groups gained today.