NEPSE starts day with blunder; Muktinath Bikas Bank’s 2,000 units sold at unadjusted price even after book closure

Tue, Dec 4, 2018 11:47 AM on Book Closure, Stock Market, Latest,

The first transaction of the day has started with a blunder. 54 units of Muktinath Bikas Bank was traded at Rs 394, however, the price of MNBBL was adjusted to Rs 345.03 after 18.25% bonus shares.

The issue proved to be of a larger magnitude as 1,946 units of MNBBL were again traded in unadjusted price.

While enquiring to the authority, they replied with the notion of being unaware about the issue. As of 11:30 AM, no more transactions have been made for the scrip.

The market depth also shows no buyer or seller while the price of MNBBL has been increased by 14.20%. This is not the first time when there have been issues after price adjustment. For instance, NEPSE wrongly adjusted the price of Grameen Bikas Laghubitta for its SGM that was supposed to endorse 50% right shares. When such issues occurred in the past, the transactions had been suspended for the whole day. Traders are likely to face similar inconvenience this time as well.

Continued issues in the trade management system of NEPSE after introduction of online trading prevails even after about 1 month. NEPSE’s continuous carelessness towards such issues has been hampering the investors and the sentiment of the market.