Stock market to remain closed for five days

Published On: March 23, 2020 09:59 AM NPT By: Republica  | @RepublicaNepal

KATHMANDU, March 23: The Securities Board of Nepal (Sebon) has instructed Nepal Stock Exchange (Nepse) to shut stocks transaction from Monday. 

Issuing a press release, the sector's regulator has come up with the decision showing the cause as preventive measures against the risks of spread of COVID-19.

On Friday, Prime Minister Khadga Prasad Oli, through his address to the nation, announced the closure of all public and private services, except essential services, for two weeks. Citing the possible risks, investors have also been demanding the government to close the stocks transaction for the time being. 

According to Sebon, the participation of investors at the brokerage firms has also been declining in recent days. 

Previously, the Sebon stopped stock transactions for a few days in the aftermath of the 2015 earthquakes.

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