NEPSE index crosses sweet 16 (hundred) with the highest market cap in history; Investors jubilant on Hydropower

A lot can happen in three months, at least in the stock market. The last time NEPSE closed over 1,600 level was on February 27, 2020. NEPSE had begun to rise at the start of the English new year and reached its high in late Feb (early march). From there, NEPSE began its steep downfall which was followed by intense speculation and swing trading.

Image from SSPro: NEPSE index. The market bounced off the low and retouched the 1,600 level, all in a span of fewer than three months. 

Finally today after 86 trading days, NEPSE has crossed the 1,600 level again. The index opened at 1,593.04 today and even briefly touch the intraday low of 1,587.59. Then it rose 14.68 points from yesterday's close and closed at 1,600.97. 1,602.14 is the highest level the index reached in the intraday session today.

12,699,535 shares traded via 45,981 transactions. The trading of 195 scrips brought the total market turnover to Rs. 3.358 Arba.

The float index gained 1.07 points and closed at 111.35 while the Sensitive index is at 316.39 after gaining 3.17 points.

More importantly, NEPSE has the highest market capitalization today in all its history. NEPSE has a total market capitalization of Rs. 21.34 kharba today.

Although impressive, this definitely isn't a surprise because NEPSE had been creating new highs for the market cap these days. The last all-time high was yesterday's market cap record itself of Rs. 21.14 Kharba.

Arun Kabeli Power Limited (AKPL) has the highest individual scrip turnover of Rs. 15.29 crores while the shares of Himal Dolakha Hydropower Company Limited (HDHPC) traded the most.

A total of 28 companies hit a 10% positive circuit today (technically). The list is primarily populated by hydropower companies.

On the other side, Laxmi Equity Fund (LEMF) lost the most 3.11%. If we look at the top loser list, it is apparent that even the top losers only lost a minuscule amount today.

Manufacturing/Products and Microfinance are the only two sectors that lost today. Manufacturing/Products lost the most 0.03%, which is still a meager amount. Interestingly, Hydropower gained a massive 5.54%, followed by Development Banks that also gained a staggering 3.9%.