New Year came at Just the Right Time: NEPSE Makes New All-Time High on New Year's Eve

Thu, Dec 31, 2020 3:25 PM on Stock Market, Latest,

-ShareSansar

Today is the last day of the year 2020. Today's midnight will mark the inception of the year 2021, celebrated all over the world as the English New Year. However, the reason to celebrate the day is not limited to this.

With the day's closing at 2,087.27, the NEPSE index has created a new all-time high closing of all its history. In perspective, NEPSE has gained over 75% in the year 2020.

The Nepalese stock exchange and its investors went through a lot in the year 2020, from facing the worldwide pandemic to facing its unavoidable consequences: piling liquidity, falling base rates, a sluggish economy, and many more.

Nonetheless, looking at the brighter side of things, these are the positive changes we witnessed:

1) NEPSE became completely online, from online trading to virtual payment. Meroshare, a platform primarily introduced to apply for IPOs online, is arguably safer, faster, and accessible in both web and app versions.

2) Broker Commission is reduced.

3) Concept of data API is now approved. This ensures the data relayed by news portals and data providers is more accurate. Live trading prices can be obtained with delays not longer than 30 seconds.

4) Really diverse sectors have already entered/ are entering the stock market.

5) NEPSE has reversed its 4-year long bearish trend and is strong into the next bullish cycle.

The index opened at 2,079.37 and gained gradually throughout the day. Overall volatility of 38.79 points was witnessed in today's trading session with the highest point being 2,112.59 and the lowest being 2,073.8.

11,464,200 shares traded hands via 50,386 transactions. Since today was the last chance for investors to grab the dividend of 12 companies, the last-day buy must have partly contributed to a rise in market activity today. Trading of 207 scrips brought the total market turnover to a little over Rs. 5.7 Arba. This is higher than yesterday's turnover of Rs. 4.44 Arba. While the float index gained 1.73 points and closed at 141.92, the Sensitive index is at 398.70 after gaining 7.4 points.

Himalayan Distillery Limited (HDL) has the highest individual scrip turnover of a little over Rs. 46.88 crores. The shares of Mega Bank Nepal Limited (MEGA) traded the most.