With the hope that there would now be a favorable government policy for share-market development, investors have been plowing cash into the share market. The NEPSE index, a barometer of investor confidence in the stock market, rallied 2.17 percent, or a staggering 14.42 points, to close at 683.41 points at the close of Monday´s trading.
“NEPSE´s surge on Monday indicates that investors are getting more confident about the upcoming non-Maoist government and this gain will continue in coming days too,” Rabindra Bhattarai, a share analyst, told myrepublica.com.
“This positive response from existing investors will further encourage future investors to put money in share market,” added Bhattarai.
The positive atmosphere prevalent now represents a complete turnaround from the gloomy share-market days during the Maoists´ tenure, when the government had equated share-market speculation with gambling.
On Monday, except for the Development Bank group--which slipped by 0.14 points, to land at 742.93 points-- most of the trading groups mounted impressive rallies to push up NEPSE´s index.
Banking and Finance groups rose 15.39 points and 9.17 points, to reach 683.41 points and 767.93 points, respectively. The Trading and Hydropower groups also edged up by 4.46 points and 1.51 points, to close at 243.47 points and 874.81 points, respectively.
On Monday´s trading, a total of 147,030 units of shares, amounting to Rs 103.63 million, was traded through 1,863 transactions. In like manner, the indices of the Insurance and the Others groups also gained 2.93 points and 23.5 points, to end at 628.8 points and 669.69 points, respectively.
The market capitalization, the total value of floated shares in the stock market, increased to Rs 438.17 billion on Monday, up from Rs 426.49 billion on Sunday.
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