NEPSE climbs for fifth day, nears 3,000 mark

The Nepal Stock Exchange (NEPSE) rose for a fifth straight trading day on Tuesday, gaining 23.83 points to close at 2,960.40 amid optimistic market sentiment. Despite fluctuations during the day, the index ended at its highest level in eight months.

Similarly, the sensitive index increased by 1.97 points, while the float index rose by 0.91 points and the sensitive float index edged up by 0.82 points.

Although the overall indices advanced, daily turnover declined slightly, with shares worth NRs 14.84 billion traded compared to NRs 15.79 billion on Monday.

The rise in the main index was driven mainly by the trade sector, which surged 9.12%, while development banks gained 1.38%. Overall, 136 companies saw their share prices increase, 117 declined, and 11 remained unchanged. 

The hydropower sector reached a record high, closing at 4,009.67 points, up 1.32%. During intraday trading, it briefly touched 4,030 points, surpassing its previous record of 3,996 points set in July.

Shares of Salpa Development Bank and Reliance Spinning Mills hit the positive circuit limit, each rising 10%, while Solu Hydropower gained 9.99%, Himalayan Power Partner and Bhujung Hydropower rose 9.98%, and Hotel Forest Inn advanced 9.97%. 

On the other hand, First Microfinance led the decliners with a 6.56% drop, followed by Manakamana Engineering Hydropower, which fell 5.11%.

Radhi Hydropower recorded the highest turnover followed by AP Power. 341 securities exchanged 35.8 million shares on the trading day.

Out of 13 sectoral sub-indices, eight rose while five fell, with the trade sector showing the most robust gains.