NEPSE closes marginally higher as turnover rises to NRs 7.43 billion

The stock market ended Wednesday’s trading session slightly higher, with the Nepal Stock Exchange (NEPSE) index gaining 1.40 points to close at 2,665.53. The market maintained an upward trend during most of the session, reaching an intraday high of 2,685 points, before giving up most of its gains toward the close.

Despite the modest movement in the benchmark index, market turnover improved considerably, rising by 31.5% from NRs 5.65 billion to NRs 7.43 billion.

A total of 21.22 million shares of 358 listed securities changed hands during the session. Share prices of 98 companies advanced, while 171 declined and nine remained unchanged, reflecting continued selling pressure across much of the market.

The Others sub-index recorded the strongest performance, surging 6.18%, primarily supported by gains in Nepal Reinsurance Company and Himalayan Reinsurance Company. Life Insurance, Mutual Fund and Trading were the other sectors to close in positive territory. The remaining nine sectoral indices posted losses.

Nepal Reinsurance Company was the top-performing stock, hitting the positive circuit limit with a 15% gain to close at NRs 921.70 per share. The rally followed a Cabinet decision approving the government-backed company's plan to issue right shares.

Himalayan Reinsurance also attracted strong investor interest, with its share price climbing 11.48% to NRs 534. Expectations surrounding its capital expansion through a rights offering further supported demand for reinsurance stocks.

In terms of trading volume, Swet Ganga Hydropower topped the list, with shares worth NRs 858.4 million traded at NRs 333 per share, representing an 8.65% increase from the previous session. Ghorahi Cement followed with transactions worth NRs 512.4 million at NRs 420 per share.

Himalayan Reinsurance and Nepal Reinsurance recorded turnovers of approximately NRs 360 million and NRs 320 million, respectively.

Among other notable gainers, Nepal Republic Media advanced 4.97%, while Mandakini Hydropower gained 4.42%.

On the losing side, Civil Bank Debenture 2088 recorded the steepest decline, falling 6.34% to NRs 1,227.50. Shikhar Power dropped 3.74% to NRs 515, while CYC Laghubitta and Chirakhwa Hydropower declined 3.34% and 3.26%, respectively.

Wednesday's trading highlighted increased investor participation, particularly in reinsurance stocks, following developments related to rights share issuance. However, the fact that declining stocks significantly outnumbered advancing ones indicates that the broader market continued to face selling pressure despite the marginal rise in the NEPSE index.