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The stock market moved upward midweek amid an election-season atmosphere, with both the benchmark index and trading volume posting gains on Wednesday.

The NEPSE index rose by 10.30 points to close at 2,648.90, continuing the upward momentum from the previous trading session.

All sub-indices advanced except Finance, Mutual Fund and Trading. The Life Insurance sub-group recorded the highest growth, rising by 1.79 percent.

Share prices of 157 companies increased during the session. Newly listed companies - Salapa Development Bank and Reliance Spinning Mills - hit the positive circuit limit. Salapa’s share price reached Rs 531.40 per unit, while Reliance Spinning Mills climbed to Rs 519.40.

Similarly, Wean Nepal Laghubitta gained 9.66 percent and Super Mai Hydropower rose by 9.18 percent.

Meanwhile, 90 companies saw their share prices decline, while 13 remained unchanged. Himalayan Power Partner recorded the highest loss among decliners, falling by 5.98 percent.

Total turnover stood at Rs 4.45 billion. Ankhu Khola Hydropower topped the list in terms of transaction value, with shares worth Rs 286.9 million traded.

Other actively traded companies included Ngadi Group Power (Rs 254.7 million), SY Panel (Rs 234.7 million), Ridi Power (Rs 148 million), and Bandipur Cable Car (Rs 104.2 million).

On Tuesday, the NEPSE index had gained 21.62 points to close at 2,638.60, with a total turnover of Rs 4.23 billion.