Kathmandu-The stock market continued to rise on second trading day of this week, gaining 56.56 points overall last week. Investors appear increasingly confident in the capital market as a new government is set to take shape.

Following the surge of  54.51 points on Sunday, the  Nepal Stock  Exchanged (NEPSE) inched up by  5. 01 points on Monday, to reach  2,936.56.  The total turnover stood at Rs  15.786 billion, down from turnover of Rs 23.59 billion. 

Shares of several companies hit the positive circuit limit, including Salpa Bikas Bank, Reliance Spinning Mills, Solu Hydropower, Abhiyan Laghubitta, and Bhujung Hydropower Company.

In terms of transaction value, Kumari Bank recorded trades worth Rs 672.378 million, while Shivam Cements saw transactions worth Rs 606.486,million.

Out of 13 sub-groups, indices of five  increased, while six  declined. The manufacturing and processing  subgroup recorded the highest gain of 1.53 percent.

Last week, the market had inched up by 4.45 points on Sunday, dropped by 26.07 points on Monday, rose by 13.51 points on Tuesday, remained closed on Wednesday, and then climbed by 64.67 points on Thursday to reach 2,877.67.

After a period of stagnation, the market gained momentum following the election results and has now resumed its upward trend.

Investors are optimistic about the mandate given to new political forces, which they believe will improve the economic structure and governance.

The market’s all-time high of 3,199.03, recorded on September 18, 2021, remains a target. It regained momentum toward that level after reaching 3,000.81 on August 16 last year and 3,002.08 again on August 29.

The market crossed the psychological threshold of 2,900 again, and investors expect it to move toward new highs. While the short-term outlook remains uncertain, analysts say most indicators point toward continued growth.