Stock market sees marginal gain as turnover rises

The stock market closed almost flat on Thursday, with the Nepal Stock Exchange (NEPSE) index rising just 0.26 points to 2,599.15.

The market remained volatile throughout the session before ending slightly higher. The modest gain came after banking, development banking and finance stocks advanced, helping offset declines in several other sectors.

A total of 139 companies recorded gains, while 128 companies declined and 12 remained unchanged. Sindhu Bikash Bank posted the biggest gain, rising 10.81% to NRs 493 per share. Corporate Development Bank also gained 9.35% to NRs 806.90.

On the losing side, Sayapatri Hydropower fell 9.66% to NRs 524, the steepest decline of the session. Swabhiman Laghubitta dropped 5.33% to NRs 1,330.10 per share.

Trading activity increased slightly, with shares worthNRs 4.89 billion changing hands, compared with NRs 4.76 billion on Wednesday. A total of 353 securities were traded, involving 12.07 million shares.

Siddhartha Bank recorded the highest turnover at NRs 305.3 million, with its share price rising 0.99% to NRs 459.90. Api Power followed with turnover of NRs 228.1 million at NRs 341 per share.

Of the 13 sectoral indices, four closed higher. The banking index gained 5.92 points, development banking rose 12.19 points, finance increased 4.23 points and hydropower added 1.30 points.

Nine sectoral indices declined, with the trading sector posting the largest percentage loss at 1.05%. Non-life insurance, life insurance, hotels, manufacturing, microfinance, mutual funds and other sectors also ended lower.