Today's Market Summary: Bears Tap Out as the Bulls Take Charge and Drive the Index 92.46 Points Higher

The stock market is a constant tussle between the bulls and the bears. This battle is especially intensified when the capital market goes through breakthroughs; the formation of a new high for example.

In a surprising trading session today, the bulls took the steering wheel from the bears who were dominating Nepal's stock market for the last few days. Reversing the double-digit losses in two consecutive days, the NEPSE index gained 92.46 points today and closed at 2,599.07.

The index opened at 2,506.52 and immediately made the intraday low at 2,504.35. However, this was the most that the bears could pull the index today. NEPSE eventually gained and ultimately closed at the intraday-high of 2,599.07.

10,202,219 shares traded hands via 63,558 transactions. The trading of 216 scrips brought the total market turnover to a little over Rs. 5.1 Arba.

While the float index gained 6.43 points and closed at 179.61, the Sensitive index is at 467.28 after gaining 14.48 points.

Upper Tamakoshi Hydropower Limited (UPPER) has the highest individual scrip turnover of a little over Rs. 23.82 crores. The shares of Nepal Infrastructure Bank Limited (NIFRA) traded the most.

A total of five gainers have closed at the upper limit of 10% gain today.

On the other side of things, the 12% ICFC Finance Limited Debenture 2083 (ICFCD83) has lost the most 1.94%. It is apparent that even the highest losers have not lost a significant amount today.

All the sectors gained today, with the Hydropower sector gaining the most 6.48%.

Where do you think the market is headed? The comment section is for you.