NEPSE records double-digit gain after early week decline

Kathmandu: The Nepal Stock Exchange (NEPSE) index, which had declined sharply during the first two trading days of the week, posted a double-digit gain on Wednesday.

The benchmark index rose by 19.70 points to close at 2,851.09. A total of 27,942,779 shares of 339 companies were traded 137,857 times, generating a turnover of Rs 11.11 billion 2418,806.

In sector-wise performance, mutual funds declined by 0.09 percent and the others group fell by 0.55 percent, while all remaining sectors recorded gains. Banking rose by 0.76 percent, development banks by 0.90 percent, finance by 1.12 percent, hotels and tourism by 1 percent, hydropower by 0.75 percent, and the investment group by 0.56 percent.

Similarly, life insurance increased by 0.52 percent, production and processing by 1.94 percent, microfinance by 0.51 percent, non-life insurance by 0.76 percent, and the trading group by 0.74 percent.

In individual company performance, share prices of Reliance Spinning Mills Limited, Bhujung Hydropower Limited, Super Khudi Hydropower Limited, Ridgeline Energy Limited, and Hotel Forest Inn Limited hit the positive circuit. Meanwhile, Saptakoshi Development Bank Limited recorded the highest decline, falling by 8.96 percent.

In terms of transaction value, Ridi Power Company Limited recorded the highest turnover at Rs 484.846 million. By volume, Kumari Bank Limited led trading with 1.56 million shares exchanged.