NEPSE hits 5% circuit break to close at 634.3 levels

ShareSansar, November 21:

Nepal Stock Exchange Limited (NEPSE) has been closed for the day after it hit 5 percent circuit break to close at 634.3 levels. The last time the market had witnessed that level was on October 5, 2009.

The trading gets halted at the only stock market of the country if the benchmark index rises by 5 percent in a day.

Buoyed by the ongoing election results, the NEPSE had hit 3 percent circuit at 12:12 PM after the market opened today for trading after the Constituent Assembly election on November 19.

The trading was first suspended for 15 minutes after 3 percent circuit break, and again halted for 30 minutes after the market hit the 4 percent circuit at 12:29 PM after the trading resumed.

The market was closed for the day after the surge continued despite the attempt to cool it down and hit the 5 percent circuit at 1:16 PM.

This is the second time the NEPSE has hit the 5 percent circuit break this year.

The last time the 5 percent circuit was on February 17 when the positive political development in the country had immensely boosted the investors’ confidence in the market after the then Chief Justice Khila Raj Regmi gave nod to lead an interim government to hold the CA election.

Before that the NEPSE had witnessed 5 percent circuit break in June 3, 2012.