Stockbrokers said the investors compelled them to close their transactions on the day. “Share transactions have already come to a grinding halt due to the protest of investors. [break]
Now, they have threatened us of dire consequence if we took fresh orders,” a stockbroker told myrepublica.com, preferring anonymity. “They also picketed at our office during the trading hours.”
Nanda Kishore Mundada, president of Nepal Stock Brokers´ Association, said investors reached the offices of all stockbrokers and requested them to close their offices. However, Mundada, who is also managing director of Shree Krishna Securities, said he had not received any reports of investors misbehaving with the stockbrokers.
Stockbrokers said though they have stopped taking fresh orders for share transactions, they performed other works such as settlement of payment of previous transactions on Tuesday.
Deepak Karki, president of Ordinary Share Holders´ Association, denied forcefully closing the offices stockbrokers. “We just requested them not to take any orders and express solidarity to our demands. We have received no reports about the investors misbehaving with the stockbrokers,” Karki added.
Stock investors are on a warpath against the government since Sunday by placing a 22-point charter of demands. They have demanded the government to come up with concrete measures to revive Nepal Stock Exchange (Nepse), the sole capital market in the country.
As a part of their week-long protest, the investors plan to shut main server of Nepse on Wednesday and Thursday. Investors on Monday opposed the central bank´s new directives on margin lending to banks and financial institutions and vowed to continue with their week-long protest.
Among others, the investors have been demanding the government to ease the policy on margin lending, increase the number of stockbrokers and suspend the process to convert 19 percent promoters shares into ordinary shares.
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