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Higher growth in microfinance group as stock market declines

Business NewsHigher growth in microfinance group as stock market declines
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kathmandu | The share market witnessed a decline on the third trading day of the week, Tuesday. The Nepse index experienced a decrease of 1.85 points compared to the previous day, stabilizing at 2010. The total turnover amounted to Rs. 20 arba 29 crores, slightly lower than the previous day’s turnover of Rs. 20 arba 79 crores.

Among the companies, 109 saw an increase in prices, while 127 experienced a decrease, with 8 remaining stable. Notably, despite the overall market decline, the Microfinance Group saw a notable increase of 1.89 percent, equivalent to 72 points, positioning microfinance companies at the forefront of those with increased prices.

In addition to Microfinance, Trade, Life Insurance, and the Finance Group also observed gains, with Banking, Development Banks, Hotels and Tourism, Hydropower, Manufacturing, Non-Life Insurance, and Other Groups facing declines.

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Gurans Microfinance and Ganapati Microfinance saw significant price increases of 10 percent, while Upakar, Vine Nepal, and Swabhiman Microfinance also witnessed notable growth percentages of 8.6, 6.9, and 6.5 respectively.

Conversely, Manakamana Engineering, Taragaon Residency, Mayakho Hydro, and Chilkhaya Hydro experienced declines in prices by 5.2, 4.9, 4.2, and 4.1 percent respectively.

Gorakhnath Finance, Sarbottam Cement, Taragaon Residency, Surya Jyoti Life Insurance, and Shivam Cement emerged as the top performers based on turnover amount.

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