The financial markets are central to the economy because wherever honourable exchange takes place, economic prosperity follows. The financial markets have the potential to be a source of national confidence. It is a place open to anyone with no barriers to entry. If reason precedes passion this can be a very fulfilling place.
It is also the duty of authorities to make the markets as fair as possible and with little tolerance for malpractice. What I see lacking are efforts for protection for vulnerable traders. This I think is essential before the markets mature into a more logical progression. This could also serve a second purpose by restraining the markets from taking adverse directions.
There were only 2 listed companies in 1937, there has been some progress in the following years but it was only in 1993 when NEPSE came into existence hence driving the markets and market behaviour to adopt a more evolved approach. I think our trading psychology is still not what it can be. No high is too high if the growth is collective and natural. Most complex economies would have collapsed if there was such a thing as a point too high. A reasonable benchmark for NEPSE can be similar to that of parallel economies. Let’s do our part to secure a place for ourselves in history.