Nepse crosses 1,200-point mark

KATHMANDU, Aug 20:

Nepal Stock Exchange (Nepse) index gained 9 points on Thursday -- the last trading day of the week -- to settle at a new high of 1,200.92 points.

The stock market is on a bull run amid expectations from investors that bank and financial institutions (BFIS), who are required to raise their paid-up capital by nearly four-fold within two years, will issue bonus and right shares to meet the new capital requirement. Similarly, positive political development for constitution writing process is encouraging investors to pour more money into the secondary market, according to stock market analysts.

On Wednesday, Nepse index had set a new high of 1,192.92 points, breaking the previous high of 1,175.38 points set on August 31, 2008.

Majority of trading groups logged gains on Thursday. Except Hydropower group, which shed 15.92 points to settle at 2,124.37, all the trading groups ended on green on the day. Share prices of Nepal Insurance Company Ltd, NLG Insurance, Premier Insurance Company and Kailash Development Bank Ltd, among other, went up significantly. A total of 1.61 million units of shares of 145 companies worth Rs 773.14 million changed hands on Thursday through 5,720 transactions.

Source: Republica