Monday proved to be a bullish day for the Nepal Stock Exchange (NEPSE) as the market index surged by 27.54 points, reaching a commendable 2092 points. Amidst afternoon trading, the market scaled even higher, peaking at 2121 points by 12:23 pm before experiencing a slight stabilization. Notably, the transaction volume also witnessed a substantial uptick, soaring from Rs 5.25 billion on the previous day to Rs 5.85 billion on Monday.
The market dynamics showcased a mixed trend, with 135 companies witnessing an increase in value, 107 registering a decline, while 4 remained stable. The banking sector emerged as a primary contributor to the market’s upward trajectory, owing to its significant capitalization, which exerts considerable influence on NEPSE. The banking index notably recorded the highest surge, escalating by 4.18 per cent.
In tandem with the banking sector, other key sectors also witnessed notable gains. The trade sector surged by 2.23 per cent, followed by a 1.84 per cent increase in investment, 1.38 per cent in hydropower, and 0.52 per cent in other sectors. However, certain sectors experienced marginal declines, including finance (0.57 per cent), life insurance (0.08 per cent), products (0.52 per cent), microfinance (0.65 per cent), and non-life insurance (0.50 per cent).
Individual stock performances painted a diverse picture, with notable gainers including Community Microfinance, Buddhabhumi Hydropower, Bhagwati Hydropower, and Nerude Mirmire Microfinance, all recording a significant uptick of 10 per cent. Similarly, Barahi Hydropower and NIC Asia Bank witnessed a robust increase of 9 per cent, followed by Maikhola (8.2 per cent) and Chyangdi Hydro (7.3 per cent).
Conversely, several stocks experienced declines, with Upkar Microfinance leading the downturn with a 7.4 per cent decrease, followed by Creative Microfinance (6.3 per cent), Mankamana Smart Microfinance (5.7 per cent), Unique Nepal Microfinance (5.6 per cent), and Narayani Development Bank (5.5 per cent).
In terms of transaction volume, CEDB Hydropower, Pokhara Finance, Sign Resunga Development Bank, First Microfinance, and NIC Asia Bank emerged as frontrunners, underscoring the robust trading activity in these stocks.
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