Kathmandu, November 4
Nepal’s share market edged up 1.40 points on Wednesday, following a gain of 6.62 points the previous day. With the marginal rise, the Nepal Stock Exchange (NEPSE) index settled at 2,665 points.
Market turnover increased to Rs 7.43 billion from Rs 5.65 billion recorded on the previous day.
Share prices of 98 companies increased, while those of 171 declined. Prices of nine companies remained unchanged.
The Others group recorded the highest gain, rising 6.18 per cent. The increase was largely driven by sharp gains in the share prices of the two reinsurance companies, Nepal Reinsurance and Himalayan Reinsurance, listed under the group.
Nepal Reinsurance, in which the government holds a majority stake, saw its share price surge by 15 per cent, the highest increase of the day, after the Cabinet decided to allow the company to issue right shares. Himalayan Reinsurance also gained 11.48 per cent after it became certain that the company would issue right shares to increase its capital.
Besides the Others group, the trading and life insurance groups rose by 1.11 per cent and 0.10 per cent, respectively. The remaining sectors recorded declines.
Among individual companies, Swet Ganga Hydropower, Ghorahi Cement, Nepal Republic Media and Mandakini Hydropower posted gains of 8.65 per cent, 5 per cent, 4.97 per cent and 4.42 per cent, respectively.
Shikhar Power recorded the highest decline at 3.74 per cent.
Swet Ganga Hydropower led the turnover list, followed by Ghorahi Cement, Himalayan Reinsurance, NIC Asia Bank, Shivam Cement and Global IME Bank.
