NEPSE's Whirlwind: 6% Surge Sparks Early Closure in Total 5-Minute Trading Spree
Mon, Mar 4, 2024 12:10 PM on Stock Market, Latest,
In a volatile morning session at the Nepal Stock Exchange Limited (NEPSE), investors experienced a whirlwind as the market underwent a staggering 6% surge. This unexpected and substantial increase prompted NEPSE to implement a series of trading halts, ultimately leading to the early closure of the market for the entire day.
The tumultuous events unfolded in two distinct phases. In the initial phase, trading persisted for a mere 3 minutes before a 20-minute halt was triggered. The market resumed at 11:23 AM, only to face another surge within 1 minute, prompting a second halt of 40 minutes. Trading recommenced at 12:04 PM, but the optimism was short-lived as another rapid 6% positive circuit occurred, resulting in the final closure of the market for the day.
Throughout these phases of suspension, market activity remained active, with the total turnover in NEPSE reaching an impressive Rs 37.52 Crores. The market concluded the tumultuous day at 2,078 points, showcasing a remarkable triple-digit gain of 117.70 points.
NEPSE's protocol for a 6% movement includes an immediate and complete trading halt for the remainder of the day, emphasizing the exchange's commitment to implementing comprehensive measures in response to extraordinary market fluctuations.
Almost three months since the last positive circuit, NEPSE's recent surge adds an extra layer of significance to the day's events. The last time a positive circuit was hit was on December 10, 2023, when NEPSE closed at 1,963.98 levels, gaining around 111.20 points or 6.00%. On that day, the turnover stood at Rs. 48.24 Crores.
