Kathmandu, Aug 10: The capital market saw a sudden plunge in the last few days raising eyebrows of investors as well as the market watchers.
Speakers at a programme organised by Media International here today attributed the ‘unnatural’ plunge of the share market was due to unfounded speculation. They said that other factors save speculation were insignificant in the share market drop.
Senior share market analyst Dr Gopal Bhatta stated that the share market was running on speculation than reality at present. He added that trivial matters are impacting the share market as it is very sensitive.
President of the Brokers’ Association, Priya Raj Regmi denied any role of the brokers in the share market plunge and said the latest sudden fluctuation in the capital market was due to the weakness of the Securities Board of Nepal, the body responsible for regulating the capital market, along with wild speculation.
Saying that they have not taken the decrease in the commission to brokers as a problem as such, he said but the lack of the development of appropriate and latest technology to carry out the works has created some problem. “We have been calling for expanding the scope of our work. The problem cannot be resolved only by blaming us,” he said.
Member of the Investors Forum, Rajan Lamsal said there was confusion regarding whether the Securities Board is a regulatory body or an advisory body. “It is objectionable for the regulatory body itself to give advise to the investors for investment through write-ups and articles in the newspapers,” he said.
President of the newly constituted Investors’ Association, Uttam Aryal said although the share market keeps on fluctuating, the sudden plunge in the share market on Monday was quite unusual and well-planned. “Monday’s rapid drop also made us nervous and it compelled us to think that it was pre-planned,” he added.
Executive member of the Investors’ Forum and Director of Megha Bank, Dipendra Agrawal alleged that the role of the securities board was unclear and biased.
The share market that started to drop since the week before further slid from the start of this week. The transaction was suspended on Monday.
Following the continuous plunge in the share market, the securities board formed a committee, citing transaction of ‘black money’ in the share market. This move led to the further plunging of the share market.
However, the transaction has gone ‘green’ from today after the scrapping of the committee on Monday night. RSS
२५ कार्तिक २०८३, बुधबार
प्रतिक्रिया