KATHMANDU, Sept 11: The Nepal Stock Exchange (NEPSE) index rose 27.94 points on Friday to close at 2,559.49 as investors responded positively to the government’s plan to introduce measures to improve the stock market.
The benchmark index, which had declined for two consecutive days, recovered on the third day after Finance Minister Dr Swarnim Wagle said the government would bring a 10-12-point plan to reform the stock market next week.
Wagle has also sought a legal reform plan from the Securities Board of Nepal (SEBON) as part of efforts to improve the market. He requested the plan based on the 10-point recommendations previously submitted by SEBON Chairman Dr Gopal Bhatt.
Nepse up for a fifth consecutive week
All sub-indices that traded on Friday posted gains. The hydropower sub-index recorded the highest growth, rising 1.83 percent. The hydropower sector had been on a declining trend following the Bhotekoshi flood on Bhadra 10.
Share prices of 237 companies increased on Friday. Upakar Laghubitta Bittiya Sanstha recorded the highest gain, with its share price rising 10.53 percent.
Trading turnover also increased alongside the NEPSE index. Shares worth Rs 4.36 billion were traded on Friday, compared with Rs 4.09 billion on Thursday.
Liberty Energy recorded the highest turnover at Rs 366.6 million, followed by NRN Infrastructure with Rs 185.1 million and Reliance Spinning Mills with Rs 147.9 million.
Meanwhile, share prices of 31 companies declined. Multipurpose Finance recorded the steepest drop, with its share price falling 5.71 percent.
