Stocks rose significantly in the morning before seeing a minor reversal. For the first part of the session, the benchmark traded approximately 20 points higher before a late-afternoon rebound moved the index back into positive territory. Nepse was up 56.73 points at 2,415.55 at the closing.
The index regained some support after a three-day correction, climbing above the crucial 2,400 barrier. The market, on the other hand, has yet to experience a significant shift in momentum, with daily below-par turnover of less than Rs. 2.5 billion for three days in a row.
With advances of over 3% apiece, the ‘Others,’ Hydropower, and Development Bank sub-indices gained the highest. All of the other segments closed the day with solid gains. Banks, a heavyweight, increased by 2%.
With a turnover of Rs. 146 million, Himalayan Distillery Ltd was the most actively traded. The following two companies, Nabil Bank Ltd and Nepal Telecom Ltd, had revenues of Rs. 142 million and Rs. 104 million, respectively. The other top turnover stocks were Manjushree Finance Ltd, NMB Bank Ltd, and Nepal Bangladesh Bank Ltd.
The day’s top gainers were Green Development Bank Ltd, Janaki Finance Ltd, and Rasuwagadhi Hydropower Ltd, all of which gained about 10%. Ankhukhola Jalbidhyut Company Ltd, Green Life Hydropower Ltd, Reliance Finance Ltd, Mountain Energy Nepal Ltd, and Ankhukhola Jalbidhyut Company Ltd all increased by more than 7%.
Gurkhas Finance Ltd, on the other hand, has lost 9% of its value. Other decliners included Terhathum Power Company Ltd, Mailung Khola Jalbidhyut Company Ltd, and Samling Power Company Ltd.
The index created a tiny bullish candlestick, according to ARKS technical analysis, indicating that buyers have control of the equity market. Momentum indicators also point to a slight uptick in optimistic enthusiasm. The psychological level can now be considered a source of support after climbing beyond the 2,400 mark. In the next sessions, a volume-driven surge could confirm a short-term rebound.