In the latest trading session on Thursday, NEPSE, the Nepali stock market index, saw a modest rise of 5.63 points (0.28 per cent) compared to the previous day, closing at 1966 points. The positive momentum was driven by gains in various sectors, particularly the hotel and tourism group.
The market witnessed fluctuations with 115 companies seeing an increase in their stock prices, 115 experiencing a decline, while 14 remained stable. Despite this, the overall turnover stood at a notable Rs 3.12 billion.
Notably, the hotel and tourism sector spearheaded the market’s upward movement, surging by 342 points (6.96 per cent). This surge was attributed to the optimism among investors regarding the sector’s performance in the upcoming third-quarter financial reports, fueled by the increasing number of tourists and subsequent improvement in hotel profits.
In addition to the hospitality industry, other sectors also contributed to the market’s growth. The banking sector witnessed a 4-point increase, while development banks surged by 32 points, finance by 14, hydropower by 4, and non-life insurance by 16 points. However, some sectors experienced declines, with life insurance dipping by 43 points, products by 7, and microfinance by 38 points.
The overall positive sentiment in the market, particularly driven by the tourism sector’s performance, reflects growing investor confidence and optimism in Nepali businesses and the economy.
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