Kathmandu, July 3
On Wednesday, the stock market continued to grow. Despite fluctuating into the red during the day, it closed with a gain of 3.79 points, reaching 2104 points on NEPSE.
Market turnover also significantly increased, rising from Rs 4.57 billion the previous day to Rs 5.8 billion today. Among the 247 listed companies, 101 saw an increase in their value, while 136 saw a decrease, and 10 remained unchanged. The finance and business group index surged by 6 per cent.
The financial sector regained dominance after a recent downturn, with notable growth attributed to the Salt Trading Corporation. This group, consisting solely of Salt Trading and other major market companies, holds substantial influence due to Salt Trading’s high market capitalisation. Following a 6.32 per cent increase in Salt Trading’s stock price, investor interest surged in hopes of capitalising on potential profits.
Additionally, the Bikas Bank index rose by 2.7 per cent. Specific gains were noted in banking (up by 7 points), development banks (up by 111 points), finance (up by 148 points), and business (up by 178 points). Conversely, declines were observed in hotels and tourism (down by 10 points), hydropower (down by 17 points), life insurance (down by 25 points), manufacturing (down by 70 points), microfinance (down by 6 points), non-life insurance (down by 25 points), and other sectors (down by 10 points).
Noteworthy performers in terms of stock turnover included Central Finance, ICFC Finance, Guheshwari Merchant Bank, and Manjushree Finance, all showing a significant 10 per cent increase. Saptakoshi Bikas Bank and Mailungkhola Hydro Power also showed gains of 8 per cent and 7.75 per cent respectively.
Furthermore, Chirkhwa Hydropower (up by 4.7 per cent), Himalayan Energy Development Company (up by 4.2 per cent), Bottlers Nepal Balaju (up by 3.9 per cent), and Himalayan Power Partner (up by 3.3 per cent) contributed to the positive movement. Leading the turnover were Manjushree Finance, ICFC Finance, Reliance Finance, Central Finance, and Janaki Finance.
