NEPSE Index Rockets with Triple-Digit Gain, Soars Past 2600 Levels; Banking Sector Sees Explosive Growth

The Nepal Stock Exchange (NEPSE) Index closed at 2,681.56 points, marking a remarkable gain of 113.42 points or 4.41% from the previous trading day's close. The previous session had also seen a positive movement with a gain of 32 points.

The trading day began with the index opening at 2,606.42 points. It dipped to an intraday low of 2,606.40 points and peaked at an intraday high of 2,708.58 points before settling at its closing value. This fluctuation highlights the market's attempt to breach the resistance zone at 2,700, although it did not close above this level.

During the session, 318 scrips were traded through 163,810 transactions, with a total volume of 40,314,517 shares, resulting in a substantial turnover of Rs. 15.81 Arba. The market capitalization stood at Rs. 42.54 Kharba, and the float market capitalization was Rs. 14.73 Kharba.

Kumari Bank Limited (KBL) led the market in turnover, achieving a value of Rs. 36.1 crores and closing at Rs. 212.40.

In terms of stock performance, fifteen companies achieved the highest gains, hitting the positive circuit with a 10% increase, most of them being commercial banks, indicating significant excitement in the banking sector.

Conversely, Ganapati Laghubitta Bittiya Sanstha Limited (GMFBS) faced the steepest decline, falling by 9.35%.

Analyzing sector indices, only the Microfinance sector ended in red. The Banking Index led the gains with a 9.89% increase, while the Hotel and Tourism Index experienced the least gain, inclining by 0.46%.