"The key to making money in stocks is not to get scared out of them."
The Nepalese stock market today was scary, impressive, and interesting - all at the same time. The market movement brought investors to the edge of their seats. There are many things that the market did impressively today and many others that it did for the first time.
The daily turnover was a little over 6.11 Arba, but the figure itself was anything but little. With this, NEPSE has created a new intraday-turnover in history. The previous all-time high was created just this year on March 01 with a turnover of a little over Rs. 4.84 Arba. Compared to today's figure, 4 Arba seems minuscule now.
The index closed today at 1,778.12, gaining a massive 36.32 points from yesterday's close. The last time that the index closed above 1,780 was way back, on October 23, 2016.
14,062,507 shares exchanged hands via 56,341 transactions. Trading of 198 scrips brought the total turnover to the new benchmark figure of 6.11 Arba.
"The stock market is a device for transferring money from the impatient to the patient."
Things are equally hot if we look at individual stocks. Nepal Reinsurance Company Limited (NRIC) has the highest individual scrip turnover of Rs. 41.08 crores. It closed at Rs. 1,110 today. Meanwhile, the shares of National Hydro Power Company Limited (NHPC) traded the most. NHPC also gained 8.54% today.
A total of 14 companies technically hit the 10% positive circuit today. They are
13) OHL, and
Not ignoring the flip side of things, the promoter shares of Mega Bank (MEGAPO) lost the most 3.17%.
All sectors closed green today, from which Trading gained the most 9.94%. Do you think NEPSE will surpass its previous high at 1,881 level? Are we up for a new landmark in NEPSE's history? And do you think you'll be a part of it?
Opinions are welcome in the comments section.