Nepal’s share market moved upward for the third day today. The NEPSE index increased by 0.20 percent, which is about 5.32 points, and closed at 2655.99. The sensitive index that reflects strong and major companies also went up by 0.30 percent to reach 457.73.
A total of 319 listed companies traded today with more than 11.9 million shares exchanged. The total turnover reached over 5.82 billion rupees. Although the market increased, the trading amount was lower than yesterday’s turnover of more than 7.03 billion.
According to Ghanashyam Pandey, president of Nepal Share Investors Association, the market is slowly becoming active again. He said that large, fundamentally strong companies that had stayed passive for a long time are now starting to move. He added that the market is still around the base level, but the ongoing dividend season and a calm political environment are helping investors feel more comfortable.
Market analyst said the market had been under pressure because of long-lasting political issues. That situation had pushed prices to lower points. As political conditions started improving and protests stopped affecting the economy, the market slowly found its rhythm again. He believes that if politics remains stable, the stock market could continue rising.
Out of 13 sectors, all except four closed higher. Hotels and insurance firms led the gainers with a rise of 1.40 percent. Production and processing rose by 1.30 percent. Non-life insurance climbed 0.65 percent. Other groups like banking, hydropower, finance, investment, microfinance and others also ended slightly higher.
Trade group was the biggest loser of the day with a drop of 1.33 percent. Development banks dipped 0.24 percent, life insurance 0.30 percent, and mutual funds 0.34 percent.
Bandipur Cable Car had the highest turnover of the day with more than 269.9 million rupees in transactions. Himalayan Reinsurance recorded 240.4 million, Ngadi Group Power had over 200.2 million, Union Hydropower 187.9 million and Shivam Cement over 172.8 million. Three companies hit the upper circuit today: Sagar Distillery, Jhapa Energy and Srinagar Agrotech.
Swastik Laghubitta rose 8.23 percent, Bandipur Cable Car gained 7.23 percent, Daramkhola Hydro increased 6.87 percent and Himstar Urja added 5.32 percent.
Joshi Hydro was the top loser, falling 4.96 percent. Supermai Hydro slipped 3.19 percent and Bhugol Energy dropped 2.74 percent.
