Kathmandu: After dropping by 105 points the previous day and coming under pressure, the Nepali stock market saw a notable rebound on Monday. The Nepal Stock Exchange (NEPSE) index, which measures the secondary market, rose by 83.33 points to reach 2,760.
During intraday trading, the NEPSE climbed as much as 98 points, reaching 2,775 at 2:33 PM, which marked the day’s highest point.
Following the sharp decline the previous day, Finance Minister Swarnim Wagle met with officials of the Stock Brokers Association of Nepal in the morning and stated that unnecessary panic had been spread in the market. He reassured investors that the upcoming budget would be transformative and that the government is working toward making the market more transparent, signaling that investors need not worry.
However, the total transaction amount declined slightly. While transactions worth NPR 12.38 billion were recorded the previous day, Monday saw a turnover of NPR 10.92 billion.
Among the traded companies, share prices of 264 companies increased, 4 declined, and 1 remained unchanged.
All sectoral indices posted gains. The hydropower group rose the most by 4.59%, followed by finance (4.03%). Similarly, banking increased by 3.18%, development banks by 3.63%, hotels and tourism by 3.24%, investment by 3.33%, life insurance by 2.66%, manufacturing and processing by 1.53%, microfinance by 2.43%, non-life insurance by 2.94%, others by 2.36%, and trading by 2.40%.
Shares of 8 companies hit the 10% upper circuit, including Upakar Laghubitta, Ridi Power, National Hydropower, Bhujung Hydropower, Super Khudi Hydropower, Ridgeline Energy, Suryakund Hydroelectric, and Hotel Forest Inn.
Meanwhile, Corporate Development Bank’s share price rose by 9.88%, Shivashree Hydropower by 9.55%, and Himal Dolakha Hydropower by 9.18%.
On the other hand, Reliance Spinning Mills, which had gained 10% the previous day, faced selling pressure today, with its share price declining by 1.60%.
In terms of transaction volume, the most traded companies today were Reliance Spinning Mills, Himalayan Reinsurance, NRN Infrastructure, API Power, and Ridi Power.
Jalasarokar
