NEPSE surges by 61.61 points, closes at 2,485.94

KATHMANDU: The Nepal Stock Exchange (NEPSE) experienced a significant surge on Sunday, climbing 61.61 points to close at 2,485.94 points. The market opened at 2,424.32 points and initially dipped to a day’s low of 2,409.63 points within the first 12 minutes of trading. However, the index quickly reversed its trend, reaching a day’s high of 2,494.06 points with 25 minutes of trading remaining. The market corrected slightly by around nine points before closing for the day.

The sensitive index, which tracks the performance of ‘A’ class companies, also recorded an impressive growth of 13.53 points. Despite the overall market uptrend, the daily turnover saw a slight decline to Rs 15.23 billion from Rs 15.54 billion on Thursday.

All 13 trading groups added to their market values. The hotels and tourism sector led the charge with a substantial increase of 259.05 points. Other notable gainers included the trading, manufacturing and processing, and life insurance sectors, all of which achieved three-digit point increases.

Among individual companies, 181 were recorded as gainers, while 56 were the losers. Soaltee Hotel Limited topped the list with the largest turnover, recording shares worth Rs 341.09 million. United Modi Hydropower Ltd emerged as the biggest gainer, whereas Sikles Hydropower Limited saw the most significant decline in market price percentage.

The robust performance of the NEPSE index reflects a positive sentiment among investors, driven by gains across various sectors and strong performance by leading companies. This surge indicates a renewed confidence in the market, potentially paving the way for sustained growth in the coming days.