Impressive turnaround: NEPSE surges 22.75 points, closing at 2,026.81

KATHMANDU: In a remarkable shift of momentum, Nepal Stock Exchange (NEPSE) witnessed a significant surge on Sunday, with the index jumping 22.75 points to close at 2,026.81 points. This surge marks a notable recovery from the previous week’s downturn, signaling renewed investor confidence in the market.

The secondary market, which had experienced a continuous decline throughout the previous trading days, showcased robust growth on the first trading day of the week.

Opening at 2,004.05 points, the market initially dipped to a low of 2,000.61 points within the first 40 minutes of trading. However, it swiftly reversed course, steadily climbing throughout the remaining trading session to secure a gain of 1.13 percent in the index.

The sensitive index, which gauges the performance of ‘A’ class companies, also witnessed a positive uptick, gaining 3.97 points. Daily turnover saw a notable increase, surging to Rs 4.25 billion from Rs 3.03 billion recorded on Thursday.

While certain sectors such as hotels and tourism, and trading, experienced marginal declines in their market values, the overall market sentiment remained bullish.

Among the 11 gaining groups, life insurance emerged as the top performer, adding 145.25 points to its index. Additionally, development banks, manufacturing and processing, and finance sectors recorded significant gains in the triple digits.

Individual company performances were also largely positive, with 190 companies registering gains, while 48 witnessed losses. Nepal Reinsurance Company Limited Promoter Share dominated the transactions with transactions totaling Rs 952 million.

Notably, Nepal Finance Ltd emerged as the top gainer among individual companies, while Taragaon Regency Hotel Limited experienced the highest decline, losing 10 percent of its market price.

The surge in NEPSE’s performance reflects a renewed sense of optimism among investors, underlining the resilience of Nepal’s financial market despite recent fluctuations. Analysts are optimistic that this positive momentum will likely continue in the coming days, buoyed by improving economic indicators and investor confidence.

Fiscal Nepal |
Sunday April 7, 2024, 11:35:23 PM |

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