Propelled by political breakthrough, market likely to hit circuit breaker(s) today

ShareSansar, February 10:

The only stock market in the country is most likely to hit circuits today, buoyed by the agreement between the two largest political parties in the country – the Nepali Congress and the CPN-UML – to form a government under the leadership of NC President Sushil Koirala.

“The market will definitely hit the first circuit in response to the outlet the country has found following a drawn-out negotiation between the Nepali Congress and the UML,” says chairperson of Stock Brokers’ Association Narendra Sijapati.

He went on to claim that the market might hit all the three circuits and close for the day if NC leader and former finance minister Dr. Ram Sharan Mahat is guaranteed to be the next finance minister of the country.

“There is a tremendous positive vibe in the market following the news of the agreement between the largest parties,” says share investor Jeevan Shrestha. “The market will most likely hit the circuits today. And I won’t be surprised if the market, which was consolidating for weeks now, will now go on to breach 806 levels soon.”