NEPSE steadies at 2,705 as market ends flat, new chair appointed

The stock market stabilised on Wednesday after four consecutive sessions of decline, with the benchmark index closing almost unchanged despite intraday fluctuations.

The benchmark index inched up by just 0.08 points to settle at 2,705.53, compared with 2,705.45 in the previous session. The marginal gain helped the market hold above the 2,700-point level after days of sustained selling pressure.

Market activity, however, slowed. Daily turnover dropped to around NRs 3.64 billion from NRs 4.04 billion recorded on Tuesday, with more than 8.37 million shares traded across 352 listed securities.

Buying interest was concentrated in finance, hydropower, investment, and manufacturing and processing stocks, helping offset declines in most other sectors. Five sectoral indices advanced while eight closed lower, though all sectoral movements remained below one percent.

A total of 126 companies posted gains, while more than 130 declined and 14 remained unchanged.

Among the top performers, Sopan Pharmaceuticals and Apollo Hydropower hit the daily upper circuit limit, each surging 14.99%. Sopan closed at NRs 808.50 per share, while Apollo ended at NRs 692.70. Bungal Hydropower also posted a strong gain of over nine percent.

NRN Infrastructure emerged as the most actively traded stock of the day, recording transactions worth NRs 211.7 million. Its share price rose more than four percent to NRs 1,428. Reliance Spinning Mills followed with turnover of NRs 183.2 million.

On the downside, NMB Debenture was the biggest loser, falling 8.64%, while Prime Bank Debenture declined nearly five percent.

Despite lower trading volume, Wednesday's session suggested a pause in the recent correction, with investors closely watching whether the market can build momentum under both improved sentiment and new leadership at the country's sole stock exchange.

NEPSE gets new chairperson

NEPSE has also received a new chairperson, with the Ministry of Finance assigning the role to Amrit Lamsal, a joint secretary at the ministry.

Lamsal, who currently heads the Planning, Monitoring and Evaluation Division at the Ministry of Finance, was appointed by Finance Minister Dr Swarnim Wagle. The chairperson's position at NEPSE had remained vacant for around six weeks.

The post became vacant after former chairperson Hemanta Basyal, who had been appointed by former Finance Minister Bishnu Paudel, resigned on April 28.

Lamsal currently also serves as chairperson of Nepal Reinsurance and is a board director at Nepal Bank. His appointment comes as NEPSE enters a new leadership phase following the recent appointment of Chudamani Chapagain as Chief Executive Officer.