‘Excessive selling pressure led market fall’-SEBON; Index nosedived 228.18 points in last 15 trading days

Securities Board of Nepal (SEBON) is carrying out investigation regarding extreme fluctuation of share market in recent days. Sales of scrip seem to be very high lately as investors are panicking with the continuous downfall of the market. The Board is trying to settle the unusual fluctuation of market. Mr. Niraj Giri, Spokesperson at the Board said, ‘The market has fallen sharply due to the selling pressure and panicking of investors. Fluctuation in market is common. We request investors not to panic in this situation. We are carrying out investigation from our side’ ‘The market will not stop to plunge unless the selling pressure is controlled.’ added Mr. Giri. The latest financial report of the listed companies have shown good growth and so does the other macro-economic indicators of the country. Commercial banks net profit increases by 43.6% to Rs 9.6 arba in Q1 of FY 2073/74 compared to Q1 of FY 2072/73. Nothing so drastic has changed in the country in last two weeks to make NEPSE index plunged by almost 13%. The falling weighted average interbank rate also signals further easiness in the liquidity situation in the banks. The weighted average interbank rate fell down to 2.8% from last week 4.8%.