Market rises by 18 points

The stock market rose for a fourth consecutive trading session on Monday, with the benchmark NEPSE index gaining 18.07 points, or 0.71%, to close at 2,560.84.

Trading activity also increased. Shares worth NRs 3.83 billion changed hands on Monday, up from NRs 3.46 billion in the previous session. A total of 92.98 million shares of 352 listed securities were traded.

Investor gains were broad-based, with 195 companies recording price increases, compared with 79 decliners and four unchanged stocks. Of the 13 sectoral indices, all except Finance and Trading closed higher.

The non-life insurance sector led the gains, rising 2.05%. The sector had come under significant pressure following the floods on August 26, and analysts attributed Monday’s renewed interest partly to the earlier decline in insurance stocks. Banking rose 1.15%, Manufacturing and Processing 1.24%, Hydropower 0.51%, Microfinance 0.61%, and Life Insurance 0.45%.

Pure Energy was the biggest gainer, climbing 15% to NRs 761.30 and hitting the positive circuit limit. Ganapati Laghubitta gained 7.35%, while Shreenagar Agritech, Kalika Laghubitta, Sagar Distillery, Rawa Energy and Shikhar Insurance also posted strong gains.

Emerging Nepal was the biggest loser, falling 15% to NRs 691.60. Sindhu Bikas Bank and Janaki Finance also dropped 15% and hit the negative circuit limit. The two companies have signed an agreement to be acquired by Muktinath Development Bank.

Reliance Spinning Mills recorded the highest turnover, with shares worth NRs 252.1 million traded at NRs 2,940 per share, a 3.89% increase from the previous session. Garima Bikas Bank followed with turnover of NRs 178.8 million.

The NEPSE index remained relatively stable during the session, moving between 2,542 and 2,565 points. Monday’s gain follows a 4.66-point increase in the previous session, extending the market’s winning streak to four trading days.

The rise coincides with Finance Minister Dr Swarnim Wagle's announcement that the government was preparing a package to strengthen the capital market and introduce reforms to the share market as part of a broader effort to revive economic activity.