Nepal Life Insurance's trading opens at Rs 1090 when the actual LTP was Rs 1,112; Market has gone up by 10 points but in fact is down by 12 point

The Last Trading Price (LTP) of NLIC on Jan 3, 2019, was Rs 1,112. However, today the market-depth section of NEPSE's website shows the LTP at Rs 1,090 which is 22 points below the actual previous closing.

The trading has begun on the basis of the faulty Rs 1,090 and has climbed 10 points till now. However, if the data had been correct then the market has already fallen by 12 points.

This, on one hand, shows the ineffectiveness of NEPSE and on the other hand their carelessness. One concerned investor had called Sharesansar informing of the error and he said that he had also already called NEPSE. The officials accepted the mistake and assured that the corrections will be made but no action has been taken as of this point.

Nepal Life Insurance Company (NLIC) is one of the top 10 companies in terms of market capitalization. So a 22 point difference in the previous closing price and today's opening price can have a significant impact in the NEPSE index at the end of the day.

In addition to that, this also influences the investor's psychology. When they see the NLIC's index rising by 10 points, they see that the price has grown but in fact, it hasn't. Already transactions have happened and now the question is how is NEPSE going to compensate or reverse the situation. Or worse yet are they going to let it be?