NEPSE Witnesses Turbulent Day with 6% Surge In Total 9 Minutes Trading Time, Forces Early Market Closure
Sun, Dec 10, 2023 12:25 PM on Stock Market, National, Latest,
In a whirlwind morning at the Nepal Stock Exchange Limited (NEPSE), the market experienced a staggering 6% surge, triggering a series of trading halts and culminating in the early closure of the market for the entire day. This abrupt and substantial increase prompted NEPSE to suspend its operations temporarily in two distinct phases.
In the first phase, the market traded for 5 minutes, after which it halted for 20 minutes, resuming at 11:25 AM. Following the resumption, the second phase ensued, with the market trading for 2 minutes before halting again, this time for 40 minutes. Trading recommenced at 12:07 PM, only to face another swift 6% positive circuit within 2 minutes, leading to the final closure of the market for the day.
During these phases of suspension, the total turnover in NEPSE amounted to an impressive Rs 48.24 Crores. The market concluded at 1,963.98 points, showcasing a remarkable triple-digit gain of 111.20 points. This significant upswing reflects the volatility and rapid fluctuations that characterized today's trading session.
NEPSE Implements Circuit Breakers as Benchmark Index Surges by 4%, Triggers Temporary Trading Halt
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 two years 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 14, 2021, when NEPSE closed at 2,418.85 levels, gaining around 137.18 points or 6.01%. On that day, the turnover stood at Rs. 1.84 Arba.
