NEPSE Surges Past 2600: A Bullish Day for the Stock Market
Great news for investors! The Nepal Stock Exchange (NEPSE) experienced a significant surge today, with the NEPSE index climbing to an impressive 2,600.38 points. This marks a 34.22-point increase from the previous day’s closing, signaling a strong bullish trend in the stock market.
Trading Volume Sees a Remarkable Increase
Adding to the positive momentum, the transaction volume witnessed a substantial rise. Today’s turnover reached a noteworthy Rs 7.51 billion, a significant jump from the previous day’s Rs 5.45 billion. This increase was largely fueled by heavy trading activity in Himalayan Bank’s founder shares, which alone accounted for Rs 1.66 billion. This highlights the growing interest in banking stocks and the overall financial market.
Market Breadth: Gainers Dominate
The market breadth was overwhelmingly positive, with share prices of 216 companies increasing. Only 28 companies saw their prices decline, while 5 remained unchanged. This indicates widespread investor confidence and a broad-based rally across various sectors.
Sectoral Performance: Hydropower Leads the Charge
Among the various sub-indices, the hydropower sector stood out as the top performer, gaining a significant 2.67 percent. This impressive performance underscores the growing interest in renewable energy and hydropower companies. Other sectors also contributed to the overall market gains, including:
* Banking: Up by 0.33%
* Development Banks: Up by 1.23%
* Finance: Up by 1.60%
* Hotels and Tourism: Up by 0.75%
* Investment: Up by 1.35%
* Life Insurance: Up by 1.80%
* Manufacturing and Processing: Up by 1.74%
* Microfinance: Up by 1.60%
* Non-Life Insurance: Up by 1.75%
* Others: Up by 1.06%
* Trading: Up by 0.88%
Top Gainers and Losers
Several companies experienced significant price movements. Guras Laghubitta and Unnati Sahakarya Laghubitta saw their prices surge by the maximum allowed 10 percent, showcasing strong investor demand. Super Madi Hydropower rose by 9.54%, Ganapati Laghubitta by 9.46%, and Peoples Hydropower by 9.08%.
On the other hand, Asha Laghubitta recorded the sharpest decline at 4.79%, followed by Upakar Laghubitta (3.96%) and Himalayan Power Partner (3.75%).
Most Traded Companies
The five most actively traded companies of the day were Himalayan Bank (founder shares), Radhi Hydropower, Nepal Reinsurance, Sahas Urja, and Butwal Power Company. These companies attracted significant trading volume, indicating high investor interest and liquidity.
In conclusion, today’s stock market performance reflects positive sentiment and growing investor confidence in the Nepalese economy. The surge in the NEPSE index, coupled with increased trading volume, paints a promising picture for the financial market. Investors are advised to conduct thorough stock analysis and make informed decisions based on their risk appetite and investment goals.
