While the economy is suffering from the recent devastating earthquake, Tarai turmoil and subsequent unofficial economic blockade enforced by India, the stock market is on a bullish trend for the past few months. Investors have become buoyant amid Nepal Rastra Bank's announcement last year to raise minimum paid-up capital requirement of bank and financial institutions which requires them to distribute more bonus and rights shares. The excess loan-able money in the banking system has also fuelled the growth in the stock market, providing easy and cheaper financing to the investors.
Most of the trading groups ended on the green zone on Tuesday. Development Bank led the gaining side with its sub-index going up 5.01 points to close at 1,241.66 points. Hydropower, Finance, Others and Banking logged gains, Hotels and Insurance groups closed the day on the red zone.
A total of 1.01 million units of shares of 111 companies worth Rs 560.39 million were traded in the market through 2,990 transactions on Tuesday.
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