Stock Market Surged With The Alliance Agreement Between Two Major Parties

Jul 02, Kathmandu- With the agreement between the two major parties in the House of Representatives to form a new alliance, the stock market rose on Tuesday. Trading was suspended for 20 minutes after the NEPSE index rose by 4 percent in the first minute of trading on Tuesday and entered a positive circuit.

Then the trading was suspended for the second time for 40 minutes after the index increased by 5 percent in the opening trade at 11:21 am. When the second circuit broke, the NEPSE index increased by 102.68 points to 2156.07 points.

In the first hour of trading i.e. between 11 am and 12 pm, there is a circuit break which decreases or increases by 4 percent, in the second hour i.e. between 12 pm and 1 am, by 5 percent and then by 6 percent.

In the open market after the second circuit break, the NEPSE index increased by 47.04 percent to 2100.43 points and over 4 billion was traded. On this day, 11 million 645 thousand 905 shares of 315 Scripps were bought and sold for 4 billion 576 million 831 thousand 720 rupees.

Although the NEPSE index rose by higher points, the shares of any company could not take a positive circuit. Shares of Himalayan Distillery rose the highest by 8.54 percent. Shares of Samaj Laghubitta Financial increased by 6.96%, Goodwill Finance by 5.74%, National Hydropower by 5.51% and Sunrise Bluechip Fund by 5.36%.

In terms of turnover, NRN Infrastructure and Development stood at the top position. The shares of that company were traded worth more than 120 million.

Sub-indicators of all groups have been seen as positive. The banking, trading and manu ad pro group sub-index rose 3 percent on the day. As the price of 227 stocks increased, only 17 stocks decreased while 3 stocks remained stable.