‘The fall is temporary, market will bounce back’- Finance Minister Mahara

Share Investors Association and Nepal Investors Forum jointly met Finance Minister Krishna Bahadur Mahara to talk about downfall of market in recent days. The meeting was held at the resident of Finance Minister Mahara at 7:00 AM today. Small and big investors along with concerned authorities have shown concern over the recent drastic fall in the stock market. Market Capitalization has fallen down from Rs 21 kharba to Rs 16.3 kharba in the last three months. Finance Minister Mahara, regarding the issue, said that, ‘The matter is really worrisome and we are willing to do anything to uplift the shrunken market at any cost. Also I request investors not to panic as the market will bounce back; the fall is temporary.’ Mahara personally had a conversation yesterday with the central bank’s Governor Chiranjibi Nepal regarding the issue. The margin lending limit which is 50% at present will be increased to 70% if needed added Mr Mahara. Also, Nepal Investors Forum and Share Investors Association met President of Nepal Bankers Association Mr. Anil Keshari Shah. He is also shown concern about the falling market. He further adds, ‘This is a golden opportunity to buy shares.’ Selling pressure and panic among investors has created massive downfall in the stock market. Yesterday only the benchmark index at Nepse dropped by 64.55 points or 4.21 % to close at 1469.48 points.