Mixed sector performance; four stocks hit upper circuit despite subdued trading
KATHMANDU, MARCH 23
The Nepal Stock Exchange (NEPSE) extended its gains on Monday, albeit at a slower pace, rising by 5.01 points or 0.17 percent to close at 2,936.56 points.
The modest increase follows a strong rally on Sunday, when the benchmark index had surged by 54.51 points or 1.81 percent to settle at 2,931.55 points.
Market indicators showed mixed performance. The Sensitive Index, which tracks 'A' class companies, slipped by 0.05 percent, while the Float Index, representing actively traded shares, edged up by 0.13 percent.
Sector-wise, trading remained mixed with seven sectors posting gains and six registering losses. The Manufacturing and Processing sector led the gainers with a rise of 1.53 percent, the only sector to record gains above one percent.
Market activity, however, declined significantly compared to the previous session. Total turnover stood at Rs 15.78 billion, with 38.07 million shares of 342 companies traded through 156,381 transactions.
In contrast, Sunday had recorded a robust turnover of Rs 23.59 billion from the exchange of 61.40 million shares of 364 companies in 204,955 transactions.
On the stock-wise front, 102 companies advanced, while 154 declined and eight remained unchanged.
Despite the subdued market movement, four companies-Bhujung Hydropower Limited, Solu Hydropower Limited, Reliance Spinning Mills Limited and Salapa Bikas Bank Limited-hit the upper circuit limit of 10 percent. These stocks had also recorded similar gains in the previous trading session.
