Stock Market Improves Again Today, Nears the Psychological Barrier of 3,000 Points

Kathmandu; On Wednesday, the fourth trading day of the week, the stock market showed a slight improvement. The Nepal Stock Exchange (NEPSE) index rose by a single digit, getting closer to the psychological barrier of 3,000 points.

At the close of trading today, the NEPSE index increased by 9.61 points, settling at 2,983.31 points. On Tuesday, the market had seen a bigger gain of nearly 80 points.

Trading Volume Remains Encouraging Despite Modest Growth

Even though the market did not see a big jump, the transaction amount was encouraging today. A total of 44.8 million shares of 319 scripts were traded, amounting to about 19.57 billion rupees, according to NEPSE.

In terms of transaction volume, Himalayan Reinsurance led the market today, followed by Shivam Cement and Nepal Infrastructure Bank.

More Companies Declined Despite Overall Index Growth

Although the overall index increased, more companies saw their stock prices fall than rise. Out of the traded companies, 98 saw their prices go up, while 152 saw declines. This shows that the market’s rise was mainly driven by a few large-cap companies.

In sector-wise performance, indices for banking, hotels, and four other groups were negative. The finance group rose the most with a 3.43% gain, while the hydropower, investment, and others groups also improved by more than 1%.

The 3,000-Point Barrier Still Holds

With today’s rise, it seems the 3,000-point level is acting as both a psychological and technical resistance. The index approached 3,000 points early in the session but then fell back, before recovering slightly by the end of the day to close in positive territory.