Money
Nepse sets new record at 1724 points
Nepal Stock Exchange (Nepse) escalated 200 points (13 percent) in just last one month. Continuing its bullish trend, the capital market has been posting new record almost every day.Nepal Stock Exchange (Nepse) escalated 200 points (13 percent) in just last one month. Continuing its bullish trend, the capital market has been posting new record almost every day.
According to the Nepse, the market on Tuesday jumped 11.35 points to close at 1,724.19 points. The benchmark index on June 26 was 1,525.09 points.
Growing demand for the stocks of commercial banks, microfinance and insurance in particular has been attributed for the soaring benchmark index in the recent days. According to the stockbrokers, capital increment plan along with the good financial health of the institutions in their quarterly report have also helped their index to grow.
On Tuesday, the rise in benchmark of almost all the sub-groups had helped overall market to grow. Insurance with adding up 37.75 points posted the biggest gain, followed by hydropower, hotels, manufacturing and commercial banks.
Banking and insurance groups led in terms of biggest transactions. NMB Bank posted the turnover of Rs89.27 million, the largest of all, followed by Lumbini General Insurance, Nepal Bangladesh Bank, Global IME Bank and SBI banks among others.
Promoters’ shares of Rastriya Beema Company rally second consecutive days in terms of top gainers. It’s index escalated by 1,151 points. Kalika Microcredit Development Bank witnessed the biggest fall of 155 points.
Along with the upward spiral in the capital market, there was turnover of Rs1.84 billion out of trading of 4,941,830 shares. The market capitalisation has reached 1,859.16 billion.