Nepal | September 29, 2020

Nepse halts trading of 81 listed companies

Himalayan News Service
Share Now:

Kathmandu, October 20

Nepal Stock Exchange (Nepse) has halted share trading of 81 listed firms today as the concerned companies have not yet paid the annual securities renewal fees. As per law, the listed firms need to pay the yearly renewal fee to the stock exchange by October 17 every year for continuous trading of their secondary shares.

After this decision of Nepse, share traders today were unable to trade shares of the 81 affected firms. Service seekers have blamed the companies for not being responsible towards the investment made by general investors in their shares.

As per Nepse, share trading of those companies will be reopened only after they pay their renewal fees.

Of the 81 companies that have failed to pay the annual renewal fees, Nepse has said that a majority are microfinance companies with 19 such firms being blacklisted. Likewise, three companies from trading subgroup, two each from hotel and others sub-indices, 11 firms from manufacturing and processing sectors,  18 development banks, two firms from life insurance sub-index, 11 finance companies and 13 from hydropower subgroup have been affected.

Meanwhile, as per Nepse, all the banks had paid their yearly securities renewal fees before the said deadline.

As Nepse halted the share trading of the 81 firms, the secondary market’s trading volume and number of transactions took a dive today compared to previous days. The per day average transaction also went down.

As a result, Nepse index dipped by 4.03 points or 0.35 per cent today to close at 1,133.71 points. Likewise, sensitive index fell by 0.77 point or 0.31 per cent to 248.35 points and float index fell by 0.32 point or 0.4 per cent to rest at 79.67 points.

 


A version of this article appears in print on October 21, 2019 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Nepal COVID-19 Update: 1351 new cases, 742 recoveries, four fatalities recorded on Monday

KATHMANDU: Nepal’s Health Ministry, in its regular press briefing, shared the latest updates on coronavirus contagion from across the country, and government’s response to the health crisis. READ ALSO: Kathmandu Valley records 817 infections on Monday As of today, 998,407 tests throug Read More...

K-pop’s BLACKPINK drop teaser for title track ‘Lovesick Girls’ from debut album

KATHMANDU: K-pop’s most popular girl band BLACKPINK on September 28 announced Lovesick Girls, the title track of their debut full-length LP The Album. According to The Korea Times, the group's label YG Entertainment dropped a teaser poster on social media, announcing the title track, Lovesi Read More...

President issues three ordinances

KATHMANDU: President Bidya Devi Bhandari has issued three ordinances, including one related to prevention and control of acid and other harmful chemicals. The President issued these ordinances in accordance with Article 114 (1) of the Constitution of Nepal and on the recommendation of the Council Read More...

Nepal, Oman to sign labour agreement soon

KATHMANDU: Nepal's Ambassador to Oman, Sharmila Parajuli Dhakal paid a courtesy call on Labour Minister of Oman Dr Mahad bin Saeed bin Ali Baouin at latter’s office. Ambassador Dhakal congratulated Dr Mahad for his appointment to the post of Labour Minister of Oman. On the occasion, both o Read More...

Global K-pop sensation BTS to drop new album ‘BE’ on November 20

KATHMANDU: K-pop supergroup BTS have announced their new album titled BE, which they will be releasing on November 20. The group’s label Big Hit Entertainment took to the group's online fan community BTS Weverse on September 28 to make the announcement, reports The Korea Herald. Without el Read More...

Armenia and Azerbaijan step up fighting in fiercest clashes since 1990s

Each side says the other firing heavy artillery Worries resurface about South Caucasus stability Azerbaijan says six of its civilians killed Nagorno-Karabakh said 15 more of its soldiers killed YEREVAN/BAKU: Fighting between Armenia and Azerbaijan escalated sharply on Monday in a Read More...

Diogo Jota

Liverpool maintain 100% start with win over Arsenal

LIVERPOOL: Premier League champions Liverpool maintained their 100% start to the season with a 3-1 win against Arsenal at Anfield on Monday leaving them level on nine points with pacesetters Everton and Leicester City. The visitors took the lead through an Alexandre Lacazette strike but L Read More...

Fulham, Aston Villa, Ivan Cavaleiro, Matty Cash

Villa beat Fulham 3-0 to move into top four

LONDON: Aston Villa moved into the Premier League top four after they strolled to a 3-0 win at Fulham thanks to goals from Jack Grealish, Conor Hourihane and Tyrone Mings in a lopsided contest on Monday. The result left Villa, who narrowly avoided relegation last season, fourth on a maximu Read More...