Stocks scale new record high of 1,222.43 pointsNepal Stock Exchange (Nepse) on Monday hit yet another high of 1,222.43 points. The market that opened at 1,219.62 points had reached 1,230.60 points just 45 minutes after the trading started.
Nepal Stock Exchange (Nepse) on Monday hit yet another high of 1,222.43 points. The market that opened at 1,219.62 points had reached 1,230.60 points just 45 minutes after the trading started.
Falling interest rates on bank deposits amid excess liquidity in the banking system, lack of alternative investment areas and short supply shares have been attributed to the rise.
Tulsiram Dhakal, a member of Nepal Investors’ Forum, said lack of alternative investment areas along with easy availability of loans amid surplus liquidity situation in banks pushed the market higher. “Besides short-supply of shares with the enforcement of demat system and merger of some banks and financial institutions also helped the market go up,” he said.
Out of nine trading groups, commercial banks, insurance companies and finance companies posted gains. Others, hydropower, development banks and hotels saw losses.
Nepal Investment Bank (promoter’s shares) posted the single largest turnover of Rs39.08 million. It was followed by NMB Bank and Sanima Bank.
Despite the rise in the benchmark index, the turnover fell to Rs492.08 million compared to Sunday’s Rs541.70 million.
The market capitalisation increased to Rs1,315.87 billion from Rs1,312.84 billion.