NEPSE Surges 1.58% Amid Election Buzz

The Nepal Stock Exchange (NEPSE) index climbed 1.58 percent, or 42.26 points, on Tuesday, January 20, closing at 2,714.81, as the nation buzzed with election fever.

Tuesday was scheduled for candidates to file nominations for the upcoming House of Representatives polls under the first-past-the-post (FPTP) system. Of the 275 seats in the House, 165 are elected through FPTP, while 110 are filled through proportional representation (PR).

According to the Election Commission, a total of 2,017 candidates had filed nominations by 4:30 pm. Candidates had until 5 pm to submit their papers at all 165 election offices, with the preliminary list of candidates set to be published between 5 pm and 7 pm.

The benchmark index had gained 1.17 percent on Sunday, the first trading day of the week. The market remained closed on Monday for the Sonam Lhosar public holiday.

Among traded securities, 224 advanced, 31 declined, and five remained unchanged.

Daily turnover surged to Rs 11.85 billion, up from Rs 8.40 billion on Sunday. Over 25 million shares changed hands through 115,181 transactions, compared to 16.31 million shares exchanged via 95,445 transactions the previous trading day.

All major indices closed in positive territory. The Sensitive Index rose 1.70 percent, the Float Index gained 1.73 percent, and the Sensitive Float Index increased by 1.83 percent.

Gurkhas Finance Ltd. (GUFL) led the gainers, hitting the upper circuit for the second consecutive day. On the other hand, 10.75% SBL Debenture 2089 (SBLD89) recorded the steepest loss, falling 4.23 percent.

In terms of turnover, NRN Infrastructure and Development Limited (NRN) topped the chart with transactions worth Rs 407.93 million, followed by Radhi Bidyut Company Ltd. (RADHI) and Manjushree Finance Ltd. (MFIL).

All sectoral sub-indices ended higher. The Hotels and Tourism Index led the gains, surging 3.36 percent, followed by the Investment Index, which rose 2.54 percent. The Trading Index recorded the smallest increase at 0.37 percent.

Total market capitalisation rose to Rs 4,558.24 billion from Rs 4,487.28 billion on Sunday.