Stock Market Hits Highest Level in 8 Months; Six Companies Gain Over 10%
News Summary
Prepared after review.
- On Tuesday, the NEPSE index reached 2960 points, the highest since Shrawan 13 (mid-July).
- Out of all companies, 136 saw their share prices increase, 117 companies recorded declines, and 11 remained unchanged.
- The trading sector led gains with a 9.12% rise, while Vishal Bazaar’s price increased by 9.91% contributing to the sector’s top growth.
10 Chaitra, Kathmandu – On Tuesday, the stock market’s NEPSE index hit its highest level in approximately eight months. The index rose by 23.83 points, closing at 2960 points, a level last seen on Shrawan 13. However, the trading volume declined slightly, dropping from NPR 1.578 billion on the previous day to NPR 1.483 billion.
Among the listed companies, 136 experienced a rise in share prices, while 117 saw declines, and 11 remained stable. The trading sector recorded the largest growth of 9.12%, with only two companies listed in this category. Notably, Vishal Bazaar’s share price surged by 9.91%, driving the trading sector’s substantial growth.
Other sector performances included banking, which increased by 0.67%, development banks by 1.38%, finance companies by 0.51%, hydropower by 1.32%, investment groups by 0.11%, and manufacturing and processing by 0.86%. Conversely, hotel and tourism dropped by 0.17%, life insurance by 0.37%, microfinance by 0.46%, non-life insurance by 0.38%, and trade by 0.16%.
Six companies posted gains of 10% or more. These companies include Reliance Spinning Mills, Salpa Development Bank, Solu Hydropower, Himalayan Power Partner, Bhujung Hydropower, and Hotel Forest Inn.
First Microfinance recorded the steepest decline, falling by 6.56%. Other notable declines included Manakamana Engineering Hydropower at 5.11% and Mero Microfinance at 4.53%. Among the most actively traded companies were Radi Hydropower, API Power, HIDCL Promoter, Ngadi Group, and Shivam Cement.