Kathmandu, Mar. 9: Nepal Stock Exchange was shut for the rest of the day on Monday after the NEPSE Index hit a total gain of 6 per cent, triggering a full-day closure under market regulations, as election euphoria continued to drive one of the most extraordinary single-day rallies in the exchange's recent history.

The market had reopened for a third time at 12:01 pm following a 40-minute halt after the second circuit breaker, but buying pressure showed no sign of abating. The index climbed to a final 2,875.43 points, a gain of 162.93 points or 6 per cent on the day, at which point the exchange automatically closed for the remainder of the session.

Despite the truncated trading day, turnover reached Rs 555 million from the exchange of 1,143,767 units of shares of 261 companies across 4,051 transactions.

Of the scrips traded, 252 advanced. Corporate Development Bank Limited and Shiva Shree Hydropower Ltd hit the upper circuit limit of 10 per cent. Only one scrip, Reliance Spinning Mills Limited, declined, hitting the lower circuit limit of 10 per cent.

The sensitive index, which evaluates Class A stocks, rose 6.03 per cent, while the float index tracking actively traded shares gained 6.10 per cent.

Among sectors, trading led the gains at 7.73 per cent, followed by investment at 7.06 per cent, banking at 6.92 per cent and hydropower at 6.81 per cent.

Monday's closure was the culmination of a session that had already seen two circuit breakers. Trading was first halted within minutes of the opening bell when the index surged 108 points or 4 per cent to 2,821.10, triggering a 20-minute suspension. When markets reopened at 11:21, the index pushed further to 2,848.22, a 5 per cent gain, forcing a second halt of 40 minutes before the final resumption that ended in a full-day shutdown.

Under NEPSE regulations, a 4 per cent movement within the first hour triggers a 20-minute halt, a 5 per cent move within two hours triggers a 40-minute halt, and a swing of 6 per cent or more at any point results in a full-day closure.

The sharp rally in Nepal's stock market came in stark contrast to global markets, which have been falling amid escalating geopolitical tensions in the Middle East involving the United States, Israel, and Iran.