Business Nepal Stock Exchange Nepse SEBON Securities Board of Nepal Share market

SEBON, Nepse preparing to reopen secondary market

Acharya123himal June 12, 2020

SEBON, Nepse preparing to reopen secondary market

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KATHMANDU, JUNE 11

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

To cease the unfold of the coronavirus, the federal government had imposed the lockdown from March 24 and prolonged it phase-wise until June 14.

Similarly, the secondary market has additionally been closed in the course of the interval apart from a quick interval when it opened on May 12 for a few days.

Bhisma Raj Dhungana, chairperson of SEBON, mentioned discussions are being held with Nepse relating to the opening modality. “We are holding talks with representatives of Nepse, and traders, service provider bankers, brokers and different involved stakeholders on find out how to reopen the secondary market,” he added.

“We may have additional discussions relating to find out how to open the market with everybody involved on Sunday and Monday.

After the discussions, the market will most likely open from Tuesday or Wednesday,” knowledgeable Dhungana.

However, no instruction or request has been obtained from anyplace to open the market to date, he mentioned.

Chandra Singh Saud, chief govt officer of Nepse, mentioned they’re all set to open the market.

“We are ready for a route from SEBON to open the market.” He added that there isn’t any various aside from to reopen the market from subsequent week as the federal government has eased the lockdown modality.

Nepse had resumed buying and selling on May 12 after a 50-day break, as per the route of SEBON.

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

At that point, SEBON had launched new guidelines and buying and selling had been restricted to simply two hours per day from 11:00am to 1:00pm.

Even so, the buying and selling had been suspended earlier than the closing bell on each days because the benchmark index plunged by the utmost day by day restrict of two per cent.