NEPSE Index Soars on First Trading Day, Driven by Lamichhane and Balen's Agreement

The NEPSE index closed higher on the first trading day of the week. While the last two trading days of the previous week saw a modest rise, this day saw a significant increase in the index.

According to market analysts, the rise in the market is attributed to the agreement between Ravi Lamichhane, President of the Rastriya Swatantra Party, and Balen Shah, Mayor of Kathmandu Metropolitan City. The agreement stipulated that Lamichhane would remain the central president of the Rastriya Swatantra Party, while Balen Shah would be promoted as the candidate for the upcoming prime minister. Analysts believe that this agreement positively influenced the market on this day. Following a period of sluggish market performance due to political uncertainty and instability, the announcement of the likely elections being held on time by the government provided a boost to the market.

On Sunday, the NEPSE index increased by 47.55 points, reaching 2633.42. Similarly, the Sensitive Index rose by 8.25 points, the Float Index by 3.40 points, and the Sensitive Float Index by 2.87 points.

Along with the NEPSE index, trading volume also increased on this day. The market saw a turnover of 5.53 billion Nepali Rupees, with 1,346,868 shares traded in 89,251 transactions across 328 stocks, compared to the previous trading day's turnover of 3.22 billion Nepali Rupees.

On this day, Mid Solu Hydropower's share price saw the highest increase, rising by 9.49%. Similarly, Joshi Hydropower Development's share price increased by nearly 7%, and Upper Sange Hydropower's share price grew by more than 6%. On the other hand, the share price of Bin Nepal Laghubitta Financial Institution saw the largest decrease of 10%.

In terms of turnover, Union Hydropower ranked at the top, with a turnover of 276 million Nepali Rupees. This was followed by Manjushree Finance, with around 245 million Nepali Rupees in turnover, and Synergy Power Development, which saw a turnover exceeding 220 million Nepali Rupees.

On this day, all 13 sub-indices saw an increase. Among them, the Financial sub-index saw the highest increase of 2.70%. Additionally, the Development Bank and Other sub-indices rose by more than 2%, while the Banking, Hotels and Tourism, Hydropower, Investment, Life Insurance, Manufacturing and Processing, Microfinance, and Non-life Insurance sub-indices all saw an increase of more than 1%.