KATHMANDU, Feb 21: Nepal Stock Exchange (Nepse) escalated 25.41 points on Monday with a surge in the share prices of companies related to hydropower development.
After the government took forward the ratification process of the US-funded Millenium Challenge Corporation (MCC) compact agreement through parliamentary process, the market gained double digit points mainly due to the investors’ attraction to purchasing shares of energy production companies. Of the top 10 gainers in the intraday trading, seven were related to the energy sector.
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United Modi Hydropower Limited witnessed the largest percentage increase in its share price. The hydropower group gained the largest mark of 72.39 points out of the 13 trading groups.
On Monday’s trading, the secondary market that opened at 2,693.10 points rose to 2,714.81 points within half an hour of the commencement of trading. The market fell as low as 2,694.17 points before closing at 2,718.51 points.
Despite a notable rise in Nepse index, the transaction amount stood at just Rs 2.99 billion. Nepal Doorsanchar Company Limited had the largest turnover of its shares worth Rs 265.01 million. Nabil Debenture 2085 was the top loser.
