Daily trading of odd lot shares start

Published On: February 5, 2017 10:30 PM NPT By: Republica  | @RepublicaNepal

KATHMANDU, Feb 5: Nepal Stock Exchange (Nepse) has started trading of odd lot shares during regular trading hours.

According to Nepse, stocks of a total of 11 listed companies of odd lots were traded on Sunday. 

Odd lot shares refer to the shares that are on number below 10 units. Earlier, trading of such odd lot shares used to be carried out only on Friday. With the new arrangement in place, investors can now buy or sell even one unit of share. 

Earlier, trading during regular trading hours (11 am to 3 pm, Sunday to Thursday) could be done for only 10 units or multiple of 10 units (for example: 20 units, 30 units and so on) of shares. 

Nepse data shows that odd lot shares of Shrijana Finance, Sagarmatha FInance, Shikhar Insurance Company Ltd, Ridi Hydropower Company Ltd, Nepal Investment Bank Ltd (Promoter), NMB Bank Ltd, Citizens Bank International Ltd, Reliable Microfinance Development Bank, NIC Asia Bank Ltd, Life Insurance Corporation Ltd and Nirdhan Utthan Bank Ltd were traded on Sunday. 

Units of shares that could not be completely divided (without decimal points) by 10 (like 23 and 10,801) used to 'get killed' by the system earlier. Allowing daily trading of such trading will end such problem, say investors. 

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