Market rises by 23.87 points on Thursday

The stock market recorded a gain on Thursday, the final trading day of the week, as the NEPSE index increased by 23.87 points to close at 2,820.4 points. Market turnover also rose compared to the previous trading session.

The market opened this week climbing by 162.4 points to reach 2,875.43 from the previous  2,712.5 points. Monday's index was the highest level recorded by the market in the past seven months. The index was last higher on July 31, when it hit 2,922 points.

A total of NRs 14.55 billion worth of shares were traded during the day, up from NRs 13.18 billion recorded on Wednesday. This week’s total turnover reached nearly NRs 50 billion, despite turnover amounting to only half a billion rupees on the first day, when the market closed within minutes after three positive circuit breakers. 

On Thursday, share prices of 176 companies increased, while 77 companies declined and nine remained unchanged.

Among sectoral indices, the banking sector posted the highest gain, rising by 2.02%. Other sectors that recorded growth included development banks (1.28%), finance (1.30%), hydropower (1.10%), investment (1.14%), life insurance (0.36%), manufacturing and processing (0.73%), microfinance (0.27%), and trading (0.14%).

Sectors that ended the day in the red were the non-life insurance, which declined by 0.04%, the others sector fell by 0.74%, and the hotel and tourism sector dropped by 0.4%.

Shares of four companies surged by the daily limit of 10%, which included Salpa Development Bank, Reliance Spinning Mills, National Hydropower, and Hotel Forest Inn. Notably, Hotel Forest Inn began trading on the secondary market on Thursday.

On the losing side, Trishuli Hydropower recorded the steepest decline of the day, falling by 3.14%.