November 27: Nepal Stock Exchange (Nepse) set a new record on Thursday (November 26) at a time when the country’s economy is reeling under the impact of coronavirus. The share market’s index has reached an all time high while the transaction amount is also the highest record till date.
On Thursday, Nepse index surpassed the previous record of 1881 points to close at 1893. The Nepse index rose by 18.43 points to set the new record. The previous record was set on July 27, 2016.
Share transaction was also the highest on Thursday in terms of monetary value. Shares of 201 companies were traded for a record of Rs 7.61 billion. Transaction of 7.18 million units of shares of those 201 companies took place on Thursday.
The number of units traded and the number of times transaction took place were also unprecedented on the same day.
It is estimated that the investors have increased investment expecting a decline in interest rate of banks due to the drop in base rates of banks. Analysts say that the investors have become attracted to the share market as there is no where to invest and they get only two percent interest from saving.
Share transaction expert Dilip Munkarmi says that the investors’ confidence has been restored believing that the bearish cycle is over. He, however, believes that the share market is yet to become stable.