NEPSE remains closed today for festivals

ShareSansar, December 17:

Nepal Stock Exchange Limited (NEPSE) will remain closed today due to the public holiday for the Udhauli and Yomari Purnima festivals.

The trading will resume tomorrow at the usual time.

The only stock market of the country was forced to close yesterday in just 1.5 hours – or just 45 minutes of trading – after the third circuit breaker was clamped after the benchmark index surged by 5 percent.

The market, which started one hour behind the schedule yesterday owing to technical snag of the NEPSE intranet, had hardly trade for more than one and a half hours before the market was closed for the day at 772.37 levels at 2:32 PM, after hitting the third circuit breaker.

The total turnover stood at more than Rs 31.24 crore. The surge is a five-year high record.

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

The market has been rallying following a number of developments such as the strongest indication yet by the major political parties to work together for a new constitution during a High-level Political Committee meeting yesterday, besides the news about the central bank’s decision to enforce Basel III by next month, inter alias.