Hydropower Group Leads Market Surge on Final Trading Day

On Thursday, the last trading day of the week, the Hydropower Group spearheaded a notable surge in the stock market, driving the overall Nepal Stock Exchange (NEPSE) index up by 5.74 points. This surge saw the Hydropower sector experiencing a significant increase of 1.44 per cent, positioning it as the top gainer for the day. However, the Banking sector witnessed a decline amidst the overall market rise.

The NEPSE index closed the week at 2,096.38 points, showcasing a positive trend. Additionally, Thursday’s trading activity reflected an uptick in turnover, reaching Rs 3.12 billion, a notable increase from Rs 2.84 billion recorded on Wednesday.

Within the sectoral performance, the Banking sector observed a decrease of 0.48 points, while the life insurance and Other sectors saw declines of 12.43 points and 11.94 points, respectively. Conversely, sectors such as Development Bank, Finance, Hotel and Tourism, Hydropower, Manufacturing, Microfinance, Life Insurance, and Business Group witnessed positive movements, with increases ranging from 3 points to 41 points.

Several companies within the Hydropower sector experienced significant price hikes, with Samaj Microfinance and Buddha Bhumi Nepal Hydropower leading with a 10 per cent increase. Trishuli Hydropower Company followed closely with a 9.8 per cent surge, while Mayakhola Hydropower, Swet Ganga Hydro, Ingwa Hydropower, Corporate Development Bank, and Kisan Microfinance recorded increases ranging from 6.9 per cent to 7.4 per cent.

Conversely, Ganapati Microfinance registered the most significant decline, with its price dropping by 3.6 per cent.

Thursday’s market performance highlights the dynamic nature of Nepal’s stock market, with the Hydropower sector leading the charge in driving positive momentum amidst sectoral variations. Investors are keenly observing these developments as they navigate market opportunities in the upcoming sessions.