The Nepal Stock Exchange (Nepse) index on Moday closed at 1,075.34 points breaking past high record of 1,064.09 points, which was set on December 17, 2007.
The Nepse floor opened at 1,047.67 points and rose by 27.67 points or 2.64 %. As per Nepse regulation, it also imposed circuit breaker or trading halt for half an hour after the index went above the 20-point mark. It has regulations that force it to suspend trading when the index makes gains or losses of over 25 points in a single day transaction.
According to reports, the main gainer was Nepal Investment Bank Ltd that gained Rs 286 per unit share to Rs 3,146. It has also announced 3:1 bonus shares, 2:1 rights share and 7.5 per cent cash dividend. Chilime Hydropower, Everest Bank, Standard Chartered Bank Nepal, NIC Bank and Nabil Bank had also pushed up the market.
The total market capitalization reached Rs 415 billion, up from around Rs 404 billion. Almost 90% of the shares traded were of financial institutions that do not justify the market fundamentals.
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