The Nepal Stock Exchange (NEPSE) index surged by 67.61 points this week (November 24 to 28), closing at 2,748.05 points on Thursday, November 28.

The index had dropped 68.35 points last week to reverse previous week’s gain of 68.60 points.

Though the index closed in red in the first and last trading days this week, it showed a gradual rise on Monday, Tuesday and Wednesday.

Appointment of Santosh Narayan Shrestha as the chairman of the Securities Board of Nepal (SEBON), the country’s capital market regulator, boosted the confidence of investors, resulting in the surge in index, investors say.

Shrestha was appointed to the position, which had remained vacant for nearly a year.

Along with the index, trading activity also slowed on Thursday, with the daily turnover totaling approximately Rs 8.45 billion, down from Rs 9.31 billion on Wednesday.

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Over 16 million shares were traded through 83,128 transactions during Thursday's session.

The Sensitive, Float, and Sensitive Float indices all closed in the red, decreasing by 0.70 percent, 0.69 percent, and 0.65 percent, respectively.

Two companies—Bishal Bazar Company Limited (BBC) and Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB)—were the top gainers of the day, hitting the upper circuit limit. Support Microfinance Bittiya Sanstha Ltd. (SMB) closely followed, gaining 9.98 percent.

On the contrary, Manushi Laghubitta Bittiya Sanstha Limited (MLBS) became the biggest loser, with its share price hitting the lower circuit limit. Upper Syange Hydropower Limited (USHL) also lost 8.60 percent in its share price.

In terms of turnover, Excel Development Bank Ltd. (EDBL) led the list, followed by Nepal Finance Ltd. (NFS) and Miteri Development Bank Limited (MDB).

Of the 13 NEPSE sub-indices, only three ended in the green. The Trading Index saw the largest gain of 9.25 percent, while the HydroPower Index posted the steepest decline of 1.58 percent.