Nepal Stock Exchange Sees Significant Surge, Closes at 2,026.81 Points

In a remarkable turnaround, the Nepal Stock Exchange (NEPSE) witnessed a robust ascent on Sunday, soaring 22.75 points to culminate at 2,026.81 points, signaling a promising start to the trading week. This surge comes on the heels of a sustained downturn experienced throughout the previous week, injecting a renewed sense of optimism into the secondary market.

During intraday trading, NEPSE embarked on a journey from its opening mark of 2,004.05 points, experiencing a brief dip to 2,000.61 points within the initial 40 minutes. However, the market swiftly rebounded, orchestrating a commendable rally throughout the remainder of the trading session, ultimately securing a notable gain of 1.13 percent in the index.

The sensitive index, which serves as a barometer for the performance of ‘A’ class companies, mirrored this positive trajectory by accruing 3.97 points. Notably, the daily turnover witnessed a substantial upswing, escalating from Rs 3.03 billion on Thursday to Rs 4.25 billion, underlining the heightened activity within the market.

Despite this overarching surge, certain sectors experienced marginal setbacks, with the market values of hotels and tourism, as well as trading, dipping by 4.56 points and 1.11 points, respectively. Nonetheless, the overall landscape was dominated by gains, with 11 out of the 13 groups recording positive movements.

Life insurance emerged as the frontrunner among gaining groups, bolstered by an impressive addition of 145.25 points to its index. Additionally, sectors including development banks, manufacturing and processing, and finance contributed to the buoyancy of the market by registering triple-digit gains.

Individual company performances reflected a similarly buoyant trend, with 190 entities marking gains against 48 in the red. Notably, Nepal Reinsurance Company Limited Promoter Share stole the spotlight with transactions amounting to a substantial Rs 952 million.

While Nepal Finance Ltd claimed the top spot among gainers, Taragaon Regency Hotel Limited witnessed a notable decline, shedding 10 percent of its market price, underscoring the dynamic nature of the market.

The resurgence witnessed in NEPSE on Sunday not only instills confidence among investors but also sets a promising tone for the forthcoming trading sessions, offering a glimmer of hope amidst prevailing economic uncertainties.