New stockbrokers mark a happy beginning
KATHMANDU, SEP 12 -
With the entry of 16 new stockbrokers, transactions in the stock market have surged.
With a significant contribution from the new brokers, the transaction volume surged by 81.38 percent to Rs 150.89 million last week from Rs 83.19 million in the previous week, when the new agents started trading.
According to Nepal Stock Exchange (Nepse), the new brokers contributed 25 percent to the total transaction volume. With the new addition, the total number of stockbrokers has reached 38.
Nepse General Manager Shanker Man Singh said he noticed a paramount dynamism and enthusiasm in new brokers although it would be too early to judge their performance. “They have claimed good market shares in their initial days,” said Singh. “It will be better if they bring more investors to the market.” Given market bearish run, Singh said the new brokers have tough times ahead.
The new agents also agree that tough times are facing them. “New investors are reluctant to enter the capital market at the moment and we have been able to attract few old investors,” said Siba Hari Mainali, managing director of Dakshinkali Securities and Investment, a new broker.
He said most of their clients were small investors who are not pretty much entertained by old stockbrokers. “A large number of small investors are making switch to new stockbrokers,” he said.
Sachin Silwal, head of Vision Securities, another new broker, shares s similar story. “We are making progress slowly and steadily,” said Silwal. “Over the week our firm’s transactions stood at Rs 5 million.”
According to the new brokers, although the volume of transaction is not very large, the number of their transactions is pretty good because of the large number of small investors.
In terms of operations, Nepse officials said, the new brokers are doing well with a few technical mistakes. “Flawless transactions will happen with time,” said Singh, adding that the server and software connected to the new brokers are also responding well. “There has not been a single instance of disturbances and breakdowns so far,” said Singh
Source: Kantipur
With the entry of 16 new stockbrokers, transactions in the stock market have surged.
With a significant contribution from the new brokers, the transaction volume surged by 81.38 percent to Rs 150.89 million last week from Rs 83.19 million in the previous week, when the new agents started trading.
According to Nepal Stock Exchange (Nepse), the new brokers contributed 25 percent to the total transaction volume. With the new addition, the total number of stockbrokers has reached 38.
Nepse General Manager Shanker Man Singh said he noticed a paramount dynamism and enthusiasm in new brokers although it would be too early to judge their performance. “They have claimed good market shares in their initial days,” said Singh. “It will be better if they bring more investors to the market.” Given market bearish run, Singh said the new brokers have tough times ahead.
The new agents also agree that tough times are facing them. “New investors are reluctant to enter the capital market at the moment and we have been able to attract few old investors,” said Siba Hari Mainali, managing director of Dakshinkali Securities and Investment, a new broker.
He said most of their clients were small investors who are not pretty much entertained by old stockbrokers. “A large number of small investors are making switch to new stockbrokers,” he said.
Sachin Silwal, head of Vision Securities, another new broker, shares s similar story. “We are making progress slowly and steadily,” said Silwal. “Over the week our firm’s transactions stood at Rs 5 million.”
According to the new brokers, although the volume of transaction is not very large, the number of their transactions is pretty good because of the large number of small investors.
In terms of operations, Nepse officials said, the new brokers are doing well with a few technical mistakes. “Flawless transactions will happen with time,” said Singh, adding that the server and software connected to the new brokers are also responding well. “There has not been a single instance of disturbances and breakdowns so far,” said Singh
Source: Kantipur
