NEPSE edges up by 7.73 points despite drop in turnover

The NEPSE index posted a modest gain on Monday, rising by 7.73 points to close at 2,796.43. Despite the increase in the benchmark index, total trading turnover declined compared to the previous session. While the market had recorded transactions worth NRs 5.27 billion on Friday, Monday’s transaction fell to around NRs 4.74 billion.

A total of 10.92 million shares of 351 listed securities were traded during the day. Share prices of 157 companies increased, while 102 declined and 10 remained unchanged.

Four companies: Corporate Development Bank, Palpa Cement Industries, Shikhar Power Development, and City Hotel hit the positive circuit limit. On the losing side, NIFRA Green Energy Debenture saw the sharpest drop, falling by 14.01% to NRs 1,032 per unit. Similarly, Mai Khola Hydropower declined by 10.01% to NRs 652 per share.

Reliance Spinning Mills recorded the highest turnover of the day, with shares worth NRs 307.4 million traded at NRs 4,212 per share, marking a slight decline of 0.19% from the previous session. It was followed by Ankhu Khola Hydropower, which saw transactions worth NRs 261.8 million, and Solu Hydropower with NRs 239.7 million in trades.

Out of the 13 sectoral indices, eight registered gains while five declined. The manufacturing and processing sector led the gains with a rise of 1.52%. Overall, the market was driven upward mainly by sectors other than hydropower, investment, mutual funds, trading, and others.