New 5 Percent Rule for Promoter Share Sales Disappoints Investors, Index Drops 20 Points
After the Nepal Securities Board (SEBON) issued a directive requiring promoter shareholders to notify the company at least 15 days in advance before selling 5 percent or more of their shares, the stock market has been continuously declining. On Monday, the index fell by 20.48 points to close at 2566.76, while turnover was limited to 3 billion rupees.
After the Nepal Securities Board (SEBON) issued a directive requiring promoter shareholders to notify the company at least 15 days in advance before selling 5 percent or more of their shares, the stock market has been continuously declining. This directive has created disappointment among general investors, which is directly reflected in the market.
The market, which had already fallen last week, closed with a significant drop on Monday, the first day of this week.
On Monday, the stock market index fell by 20.48 points to reach 2566.76 points. In today's trading, the share prices of 242 companies declined, while only 32 companies saw gains. The share prices of 4 companies remained unchanged.
Trading volume was also limited to 3 billion rupees, indicating increased investor caution and uncertainty in the market.