Nepse up slightly after three days of freefall

The share market freefall stopped today as it gained 17.60 points to close the market.

The Nepal Stock Exchange (Nepse) index climbed above 3,100 mark again to close the market at 3,094.05 points, up by 17.60 points from the morning's opening.

Earlier, on Monday, Tuesday and Wednesday, the market witnessed a sharp decline of more than 120 points. Hydropower, development bank and finance stocks helped the index recoup the recent losses partially. With the market gain, some Rs 13 billion worth of equities changed hands today, the last trading day of the week.

Hydropower stocks rose by 5.08 per cent, followed by development bank and finance companies groups, which shot up by 4.17 per cent and 3.82 per cent. Likewise, microfinance and hotels and tourism sectors also gained, but life insurance sector lost around 1 per cent today.

Of the traded companies today, Arun Valley Hydropower's stake was traded the most with a turnover of almost Rs 1 billion, whereas Arun Kabeli Power and Ridi Hydropower with Rs 450 million and Rs 345 million today.

Some 8 companies including Narayani Development Bank, Shree Investment Finance, Guheshwori Merchant Bank and Finance, Arun Valley Hydropower, Corporate Development Bank, Ankhu Khola Jalvidhyut Company, Ghalemdi Hydro and Jeevan Bikas Laghubitta Bittiya Sanstha witnessed upper circuit limit of 10 per cent.

But Life Insurance Company Nepal dropped by 3.33 per cent followed by Shivam Cements, which fell by 2.30 per cent.