KATHMANDU: The Nepal Stock Exchange (NEPSE) index edged up slightly on Wednesday, extending its gains for a second consecutive trading session, while overall market turnover increased significantly.

The benchmark index rose 1.40 points to close at 2,665.53 points. However, the Sensitive Index declined by 2.69 points. Similarly, the Float Index dropped 0.44 points and the Sensitive Float Index fell 0.99 points.

Alongside the benchmark index, trading turnover also increased. Shares worth Rs 7.43 billion were traded on Wednesday, compared to Rs 5.65 billion on Tuesday.

A total of 21.22 million shares of 358 companies were exchanged through 59,185 transactions during the session.

Nepal Reinsurance Company recorded a positive circuit, with its share price surging by Rs 120.20, or the maximum permitted daily limit, to close at Rs 921.70.

The company’s share price climbed following the Cabinet’s decision to approve an agreement for additional investment in the company through rights shares by the Government of Nepal.

Himalayan Reinsurance also gained 11.5 percent, while Shwet Ganga Hydropower and Construction advanced by 8.5 percent. Meanwhile, Civil Bank Debenture 2088 recorded the highest decline of 6.34 percent.

In terms of turnover, Shwet Ganga Hydropower and Construction topped the list with shares worth Rs 858.4 million traded. Ghorahi Cement Industries followed with transactions exceeding Rs 510 million, while Himalayan Reinsurance recorded a turnover of more than Rs 360 million.

Sector-wise, four of the 13 sub-indices ended in positive territory, while the remaining nine declined.

The Others sub-index posted the highest gain, surging 6.18 percent. The Trading sub-index also advanced by more than 1 percent, while Life Insurance and Mutual Fund recorded marginal gains.

The remaining sectors closed lower, reflecting mixed investor sentiment despite the benchmark index’s modest advance.