Stock market sees double-digit rise

KATHMANDU, FEBRUARY 23: On the first trading day of the week, the Nepal Stock Exchange (NEPSE) index posted a double-digit gain, accompanied by an increase in transaction volume. The benchmark index climbed 11.66 points to close at 2,755.40.

Today, shares of 328 companies were traded 108,913 times, with a total of 21.2 million shares exchanged, amounting to a turnover of NPR 11.54 billion.

Among sectoral sub-indices, banking edged up 0.03%, investment advanced 1.33%, life insurance gained 0.86%, manufacturing and processing rose 2.78%, mutual funds inched up 0.02%, non-life insurance added 0.13%, and the "others" category surged 3.72%.

Conversely,  the development banks declined by 0.48%, finance companies dipped 0.45%, hotels and tourism fell 0.50%, hydropower dropped 0.56%, microfinance slid 0.66%, and the trading sector contracted 1.32%.

Guardian Micro Life Insurance Limited hit the upper circuit breaker, while Reliance Finance Limited recorded the sharpest decline, with its share price plunging 7.24%.

Himalayan Reinsurance Limited led the market in terms of transaction volume and total traded shares, with 990,672 shares changing hands, amounting to a total turnover of NPR 956.45 million.