NEPSE climbs double digits on strength of banking group

According to Nepal Stock Exchange data, the NEPSE index rose about 21 points on Wednesday to close at around 2,621. The market has now risen for five straight days.

The banking group contributed the most to the gain, with its index up nearly 1.5 percent. This group accounts for roughly a quarter of total market capitalization. Its index reached about 1,565 points, the highest since Chaitra 10.

All sub-indices rose, with the development bank group climbing more than 1 percent.

Turnover, however, declined. After shares worth about Rs 4.73 billion changed hands on Tuesday, Wednesday's turnover was about Rs 4.13 billion, covering roughly 11.6 million shares of around 350 companies.

About 190 companies saw their share price rise, while around 80 saw declines. SBL debenture gained more than 13 percent, the biggest riser of the day, while Sagarmatha Jalvidhyut's share price fell more than 6 percent.

Kumari Bank led in turnover value, with shares worth about Rs 264.6 million traded.