Prohibitory orders in Kathmandu Valley from Thursday; Will the Stock Exchange Remain Open?

In the wake of rising numbers of coronavirus cases, CDOs of Kathmandu, Lalitpur, and Bhaktapur have decided to impose prohibitory orders in Kathmandu effective from Thursday.

Vehicular movements, both public and private ones, will be barred. Similarly, shops will be allowed to open from 5 am to 10 am. The prohibitory orders will be in the same pattern as last year.

Nepal's new daily Covid-19 count on Sunday reached 3,032. Of them, Kathmandu Valley recorded 1,498 new infections. 1,132 cases were confirmed in Kathmandu, 270 in Lalitpur, and 96 in Bhaktapur.

Sharesansar contacted NEPSE to enquire how the exchange is planning to conduct its operations during the travel restriction imposed in the valley. NEPSE's spokesperson Murahari Parajuli stated that they have been obeying the instructions forwarded by the Securities Board of Nepal as of now. SEBON is the regulator of Nepal's capital market, and NEPSE is obliged to follow instructions forwarded by the regulatory body.

SEBON's Information Officer Deepa Dahal told Sharesansar that the capital market will not remain closed for any reason whatsoever. Everything from IPO application, share trading, and payment has now been made online. As such, the capital market can operate without the need for physical travel and gathering. Nonetheless, they are yet to issue a formal statement after a meeting within the board.

After the government unveils its strategic move to tackle the pandemic, the board will also be able to provide clear instructions to the broker offices and institutions concerned with the capital market. This includes whether the employees of the institutions concerned with the capital market will be allowed to travel to their respective offices for tasks that require one to be in the workplace.