28 April Kathmandu : The Securities Board of Nepal (SEBON)– an apex regulator of securities markets – has clarified that preparation are underway to open share market in the near future.
At a virtual conference organized here today by Society of Economic Journalists-Nepal, SEBON chair Bhishma Dhungana informed that the share market would come into operation immediately following the lifting of lockdown.
He also expressed commitment for bringing fully automated online transaction system within 2-3 months after the lockdown comes to an end. The Nepal Stock Exchange (NEPSE) and SEBON are effortful to that end, he added.
NEPSE’s Chief Executive Officer Chandra Singh Saud said the NEPSE was also in favour of resuming the operation of share market following May 7 and discussions were being held on the modality of share market operation even during the period of lockdown. The existing online system could be further improved, he noted.
Former chair of Nepal Investors’ Forum Ambika Prasad Poudel recommended to lower limit of transaction time and circuit breaker. He urged the authorities concerned to put necessary measures to open share market in view of spreading negative message to the domestic and international investors while closing the market for long.
Stock Broker Association chair Bharat Ranabhat also stressed the need to open the market at the earliest. Share market expert Dr Gopal Bhatta also echoed the need to resume the share market with a necessary plan.