KATHMANDU. The Nepal Stock Exchange (Nepse) index jumped 84.51 points on Tuesday, ending an eight-day losing streak. The capital market bounced back with Securities Board of Nepal (Sebon) scrapping a committee formed to probe alleged inflow of illicit money into the capital market.
On Tuesday, Nepse imposed the circuit breaker, just an hour and 12 minutes into the trading. With more than five percent surge in the Nepse index, the trading has been suspended for the rest of the day.
As the market plunged, Sebon on Monday was forced to issue two statements. In its first statement, investors were requested to calm down and not to lose confidence.
Investors were urged to keep in mind the publication of financial statements by listed companies and fair profit posted. Sebon had asked the investors to conduct fundamental and technical analyses and take rational investment decisions.
Amid accusations that it has been repeatedly influencing investors, Sebon issued second statement in which it stated that the probe committee has been scrapped. On Monday, Nepse index fell by whopping 88.81 points—the highest single-day loss as the market succumbed under a strong selling pressure.
The Kathmandu Post, Published: 09-08-2016 14:27
वि.सं.२०७३ साउन २५ मंगलवार १६:०८ मा प्रकाशित
