The banking stocks, which suffered a massive sell-off in the fourth quarter of 2016 due to interest rate cap law, recovered in the first quarter of the year, the regulator said yesterday. The Capital Markets Authority said trading in banking shares posted a 51.68 per cent growth in turnover in the Janaury-March period compared with October-December 2016. This is a 19.99 percentage point dip from 47.96 per cent pre-interest rate cap regime. Both the NSE 20-Share Index and the All-Share Index are on an overall upward trend, indicating positive stability,” Muthaura said. He reiterated the need for private firms to increase their investment at the NSE as this would increase foreign investor sentiment.

Source: The Star May 03, 2017 21:11 UTC