Nepal Stock Exchange imposed circuit breakers three times on Monday, after it experienced high transactions of shares.
The first circuit breaker was announced at 1 pm after NEPSE index rose by three percent, suspending trading for 15 minutes. Trading was suspended again for 30 mins at 2pm. A third circuit breaker was enforced again after NEPSE surged by five percent, suspending trading for the whole day.
NEPSE index closed at 771.2 points, gaining 37.95 points, or 5.18 percent, highest since November 2008.
The total turnover of the market stood at Rs 331,459,932 which was carried out through 1,342 transactions totaling 673,123 units from 96 companies. Hydropower group was the highest gainer of the day with its sub-index going up by 82.13 points to settle at 1762.7 points. Prime Commercial Bank Limited (PCBL) performed best, closing at Rs 550, with a gain of Rs 50 while NLG Insurance Co. Ltd. (NBB), closed at Rs 735, with loss of Rs 16 or 2.13 percent.
Investors seem to be reacting positively because of the improvement in the political scenario and the likeliness of UCPN (M) joining the CA.
NEPSE is closed on Tuesday, following a public holiday for Janai Purnima.