Nepse closes at new high of 1,598 points

Published On: June 13, 2016 03:52 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU,June 13 : Nepal Stock Exchange (Nepse) index jumped 31.26 points to close at a record high of 1,597.96 points on Sunday.

Liquidity surplus in the banking system, preparation of bank and financial institutions as well as insurance companies to raise their paid-up capital, and bullish sentiment of investors, among other factors, are attributed to the longest bull run in the stock market.

All trading groups, except Hydropower, ended on the green zone on Sunday. Banking, the heavyweight trading group in the secondary market, led the gaining side, as its sub-index shot up 47.47 points to close at 1,465.82 points.

Nepal Bangladesh Bank Ltd's announcement to float 80 percent rights issue, and attraction toward shares of Standard Chartered Bank Nepal Ltd and Everest Bank Ltd have driven up the banking group, according to market analysts.

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