Money & Finance
The Nepal Stock Exchange (NEPSE) index posted a double-digit gain on Monday after the formation of the new government under the leadership of the CPN (Maoist Centre).
The index increased 56.88 points to close at 1924.09 points. Similarly, the sensitive index also surged 8.38 points to reach 375.45 points. The total market capitalisation has also gone up to reach over Rs352 billion.
Out of the total 13 subgroups, all except ‘others’ increased. Over 5.6 million shares of the total 250 companies were traded at more than Rs 2.9 billion.
Monday 13 companies’ stocks increased over nine per cent of which six hit the circuit breaker. Out of 250 stocks traded 232 closed green on the day.
As Bishnu Paudel is now the new finance minister, many believe, the market sentiment towards his appointment is positive.
The benchmark share index soared to an all-time high of nearly 3,200 mark on August 2021 when Paudel was at the helm of the Finance Ministry. At that time, the market capitalisation of Nepse reached about Rs4.5 trillion.
