NEPSE Makes Yet Another All-Time High; Are the Bulls Back on Development Banks and Banking?

"Not even a world war can keep the stock market from being a bull market when conditions are bullish, or a bear market when conditions are bearish. And all a man needs to know to make money is to appraise conditions."

Jesse Livermore

There simply is no stopping to the NEPSE index. Just last Thursday, the NEPSE index had gained 15.91 points and closed at 2,194.48. That was the highest closing since the inception of the NEPSE index.

Today, just on the immediate trading day after that historic feat, the NEPSE index has created yet another all-time high, gaining 41.24 points to close at the all-time high at 2,235.72. This is completely uncharted territory, and the index hasn't touched this level ever, not even in intraday action.

The index opened at 2,201 today and did not trade at anywhere lower than that. Making an intraday high at 2,238.24, the index ultimately closed at 2,235.72.

15,030,836 shares traded hands via 51,171 transactions. The trading of 207 scrips brought the total market turnover to a little over Rs. 6.23 Arba. While the float index gained 3.56 points and closed at 153.01, the Sensitive index is at 428.43 after gaining 7.21 points.

Prabhu Bank Limited (PRVU) has the highest individual scrip turnover of a little over Rs. 40.29 crores. The shares of Kumari Bank Limited (KBL) traded the most.

The top 6 highest gainers have technically hit a 10% positive circuit today.

Meanwhile, Nirdhan Utthan Laghubitta Bittiya Sanstha Limited (NUBL) lost the most 4.31%. NUBL had declared a dividend today. 

Only the sector "Life Insurance" lost a minimal 0.12% today. Of all the sectors that gained, Development Banks gained the most 3.98%.