Nepal | September 21, 2020

Nepse to suspend share trading from Sunday

Himalayan News Service
Share Now:

Kathmandu, March 19

In a bid to stem the possible spread of coronavirus and giving in to the pressure from the investors’ groups and brokerage firms, the Securities Board of Nepal (SEBON) is gearing up to suspend trading in the share market for at least a week.

Today, the board had summoned the officials from Nepal Stock Exchange (Nepse), investors’ associations and brokerage companies to discuss temporarily halting trade in the sole secondary market.

After the discussion, the board has assured to halt trading in Nepse for five days from Sunday.

Bhishma Raj Dhungana, chairperson of SEBON, informed that they plan to suspend trading in the secondary market from Sunday.

“Following the discussion with different stakeholders, we plan to halt the trading business from Sunday. We will officially make an announcement in this regard on Friday or early Sunday.”

Radha Pokharel, chairperson of Nepal Puzibazzar Laganikarta Sangh, informed that the stockbrokers and investors in today’s meeting had verbally agreed to halt stock trading from Sunday.

“We have suggested suspending the trading for at least one month,” she added.

However, as per the existing law, the board can close the market only for a maximum of seven days.

Nevertheless, stating that the board will consult with the Ministry of Finance for extending the deferral period, Dhungana added that if the line ministry gives its consent, the trading halt could be stretched to at least a month.

As per Dhungana, share investors would be able to place their orders online even if physical trading will not be carried out. But according to Nepse, only around 45 per cent of total investors are currently using the online system to trade shares.

Benchmark index had jumped 1.08 per cent or 13.5 points to close at 1,269.30 points today. Sensitive index edged up by 0.75 per cent or 2.03 points to 273.82 points, while float index rose by 1.08 per cent or 0.96 point to 90.12 points.

Banking, hydropower, non-life insurance, others, microfinance, life insurance and mutual funds subgroups witnessed gains today, whereas trading, hotels, development banks, finance and manufacturing landed in the red.

Nearly 5.11 million shares of 173 listed companies were traded through 18,792 transactions today that amounted to over Rs 1.90 billion.


A version of this article appears in print on March 20, 2020 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Photo Gallery: Rohingya refugees receive relief in Kapan amid COVID-19 crisis

KATHMANDU, SEPTEMBER 21 Hiteri Foundation provided food relief packages to long-persecuted Rohingya Muslim refugees here in Kapan on Sunday, September 20. More than 175 families are taking shelter in Kapan after entering Nepal following a mass exodus from their native Myanamar. Also seen in pi Read More...

Nepali Army soldier Nepal’s first security person to die of COVID-19

KATHMANDU, SEPTEMBER 20 Country witnessed the first death of a security person due to COVID-19. The deceased, a 34-year-old soldier of Nepali Army was posted in Kathmandu. He hailed from Ramechhap district. However, Nepali Army has not yet revealed the identity of the deceased. The deceased wa Read More...

Mane double eases Liverpool to 2-0 win over 10-man Chelsea

LONDON: Two goals from Sadio Mane just after halftime eased champions Liverpool to a 2-0 win over 10-man Chelsea in the Premier League season's first heavyweight clash at Stamford Bridge on Sunday. A dull game never threatened to live up to the eight-goal thriller when the sides met in Read More...

Son and Kane combination leads Spurs rout of Southampton

SOUTHAMPTON: Son Heung-min scored four goals set up by Harry Kane as Tottenham Hotspur came from a goal down to overwhelm Southampton 5-2 on Sunday and earn their first Premier League win of the season. In an action-packed first half at St Mary's, both sides had a goal ruled out by VAR before Read More...

Women, children highly affected by COVID pandemic

KATHMANDU, SEPTEMBER 20 The National Women Commission today organised a webinar on ‘Impact of COVID-19 on Women and Initiatives Taken by NWC and Nepal Police in Addressing Gender Based Violence Issues’ to highlight impact of pandemic on women and children across the country. According to t Read More...

Thapa vows to establish RPP as strong force

KATHMANDU, SEPTEMBER 20 Chairperson of Rastriya Prajatantra Party Kamal Thapa today pledged to establish the party as a strong force. The country would become prosperous and sovereign only by pursuing the ideology RPP as Nepal is faced with complex geo-political situation, he claimed at a virt Read More...

NCP Secretariat dwells on Cabinet reshuffle

KATHMANDU, SEPTEMBER 20 The Secretariat of the ruling Nepal Communist Party (NCP) today began discussion on Cabinet reshuffle. NCP Spokesperson Narayan Kaji Shrestha said the meeting discussed policy issues regarding the Cabinet reshuffle from different angles, but it did not take a decision o Read More...

Ministry of Urban Development

Bancharedanda landfill site to be completed by mid-October

KATHMANDU, SEPTEMBER 20 State Minister of Urban Development Rambir Manandhar said construction of a sanitary landfill site at Bancharedanda on the border of Nuwakot and Dhading districts will be completed by mid-October. During monitoring of the under-construction landfill site today, State Mi Read More...