The market, which started one hour behind the schedule 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 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.
The first circuit breaker of 15 minutes was clamped in less than half an hour after the trading started for the day at 1:23 PM. The second circuit breaker of 30 minutes was clamped at 1:56 PM within minutes after the trading resumed.
This is the third time the NEPSE has hit the 5 percent circuit break this year.
Before this, NEPSE had hit three consecutive circuit breakers on November 21 to close at 634.3 levels.
The first time the 5 percent circuit was hit this year 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. -SSN
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