1.62 lakh unit of BOK promoter shares traded on last day of trading before Dashain

1.62 lakh units of Bank of Kathmandu (BOK) promoter shares (BOKPO) were traded on last day of  trading before Dashain vacation on Kartik 02, 2072. The transactions were pre-planned as all the shares were sold by broker no. 58 and bought by broker no. 49 in just two transaction ! The promoter shares of BOK worth Rs 4.05 crore were sold. These two transactions accounted for approximately 13% of the turnover of NEPSE on Kartik 02, 2072. Before these two transactions, the shares BOKPO was last traded at Rs 260 per unit on September 22, 2015. If were to take a closer look at these transactions, the first transaction was carried out to lower the price of BOKPO to bring down the price at desired level. In the first transaction 106 units of BOKPO were bought at the rate of Rs 255/unit. In the second and final transaction a whopping 1.62 lakhs units of BOKPO shares were bought at the rate of Rs 250/unit. This is 3.84% drop in the opening price of BOKPO. This manipulation of price was done to get around the trading range set by NEPSE for a given transaction.