Stock market rises 8.81 points, turnover 3.7 billion

The Nepal Stock Exchange (NEPSE) index rose 8.81 points, or 0.33%, to close at 2,651.21 on Thursday, following modest gains in the previous sessions.

The benchmark index had gained 0.55 points on Wednesday and 0.79 points on Tuesday after falling for three straight sessions.

Market activity also strengthened, with total turnover rising to NRs 3.72 billion from Rs 3.53 billion in the previous session. A total of 1,02,25,874 shares of 347 securities changed hands during the session.

Share prices of 171 companies advanced, while 86 declined and 19 remained unchanged.

Sarvottam Paints Industries was the top gainer, hitting the 15% upper circuit limit to close at NRs 345 per share. Mountain Everest Power Development also hit the positive circuit, rising 14.99% to NRs 396.70 per share. Both companies recently began trading on the secondary market following their IPOs.

Ghalemdi Hydro emerged as the most actively traded company, with shares worth NRs 299.81 million changing hands at NRs 256.70 per share. Its share price gained 11.90% from the previous session. NRN Infrastructure and Development followed with turnover of NRs 166.9 million, while Solu Hydropower recorded NRs 157 million in transactions.

Among the 13 sectoral indices, 10 closed higher, while two declined and the Trading Index remained unchanged. The Manufacturing and Processing sector recorded the strongest gain among the advancing sectors, rising 0.57%.

The Sensitive Index gained 0.21%, while the Float Index and Sensitive Float Index increased 0.33% and 0.23%, respectively.

Emerging Nepal recorded the largest decline among individual stocks, falling 5.11%. The 10.25% Prabhu Bank Debenture 2086 was the biggest loser among traded securities, dropping 10.45% to Rs 1,131 per debenture. Global IME Bank Debenture 2086/87 also declined 5.58% to Rs 1,065.10.

Total market capitalisation increased to NRs 4,559.27 billion from NRs 4,541.15 billion at the previous close.