Nepal | September 29, 2020

SEBON, Nepse preparing to reopen secondary market

HIMALAYAN NEWS SERVICE
Share Now:

KATHMANDU, JUNE 11

As the government has eased its lockdown modality, the Securities Board of Nepal (SEBON) and Nepal Stock Exchange (Nepse) are now preparing to reopen the share market.

To stop the spread of the coronavirus, the government had imposed the lockdown from March 24 and extended it phase-wise till June 14.

Similarly, the secondary market has also been closed during the period except for a brief period when it opened on May 12 for a couple of days.

Bhisma Raj Dhungana, chairperson of SEBON, said discussions are being held with Nepse regarding the opening modality. “We are holding talks with representatives of Nepse, and investors, merchant bankers, brokers and other concerned stakeholders on how to reopen the secondary market,” he added.

“We will have further discussions regarding how to open the market with everyone concerned on Sunday and Monday.

After the discussions, the market will probably open from Tuesday or Wednesday,” informed Dhungana.

However, no instruction or request has been received from anywhere to open the market so far, he said.

Chandra Singh Saud, chief executive officer of Nepse, said they are all set to open the market.

“We are waiting for a direction from SEBON to open the market.” He added that there is no alternative other than to reopen the market from next week as the government has eased the lockdown modality.

Nepse had resumed trading on May 12 after a 50-day break, as per the direction of SEBON.

However, it remained open for only two days after the market tumbled noticeably.

At that time, SEBON had introduced new rules and trading had been limited to just two hours per day from 11:00am to 1:00pm.

Even so, the trading had been suspended before the closing bell on both days as the benchmark index plunged by the maximum daily limit of two per cent.

A version of this article appears in e-paper on June 12, 2020, of The Himalayan Times.

Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

1,351 new cases take Nepal’s coronavirus tally to 74,745 on Monday

KATHMANDU: Nepal’s coronavirus tally moved to 74,745 as 1,351 new infections were reported in the last 24 hours. As many as 742 people that had earlier contracted Covid-19 tested negative for the infection as per the Ministry’s latest data. So far, 54,640 people have recovered from the diseas Read More...

Baitadi district

Baitadi jail facing challenges due to overcrowding

BAITADI: District Jail, Baitadi has been facing problems in the management since it has been housing more than twice the number of jailbirds to its capacity. The jail is currently housing 58 persons including 31 inmates and 27 detainees. However, the prison only has the capacity to accommodate Read More...

Kathmandu Valley records 817 infections on Monday

KATHMANDU: Kathmandu valley logged over 800 additional cases of coronavirus infection in the last 24 hours. As per the Health Ministry’s latest report, 817 new infections surfaced in the valley today, which 60.47 per cent of the total caseload. Read Also: 1,351 new cases take Nepal’s coro Read More...

Four Covid-19 fatalities recorded on Monday, tally shifts to 481

KATHMANDU: Four people passed away from Covid-19 related complications in the last 24 hours, with which the nationwide death-toll has moved to 481. Two women and two men lost their lives due to this infection, the Health Ministry’s latest update showed. Read Also: 1,351 new cases take Nepal Read More...

Royal Bengal Tiger of Chitwan National Park

Mahout killed in tiger attack in Chitwan National Park

CHITWAN: A man has been killed in a tiger attack in an intermediate community forest of Chitwan National Park today. Previously, a person was killed by a tiger two days ago on Saturday in the western part of Chitwan district. The deceased has been identified as Babana Chaudhary (55) of Ratnanagar Read More...

Coronavirus , vaccines, vaccines trails

Inovio's potential COVID-19 vaccine trial on partial clinical hold

LONDON: Inovio Pharmaceuticals Inc said on Monday the US Food and Drug Administration had placed a partial clinical hold on the company's planned mid-to-late-stage trial of its experimental coronavirus vaccine candidate. The company said the pause was not due to any side effects in its early-stag Read More...

Ronaldo double earns point for 10-man Juventus at Roma

ROME: Cristiano Ronaldo’s second goal of the night rescued a 2-2 draw for 10-man Juventus away to AS Roma in Serie A on Sunday, after Jordan Veretout had twice put the capital club in front. Veretout and Ronaldo netted penalties after both teams were penalised for handball, and the French midfield Read More...

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...