Finance Minister Surendra Pandey has asked investors not to take capital market as the place for speculative and short-term earning.Speaking at an interaction on Nepse Index organized by Nepal Stock Exchange Ltd with support of Bombay Stock Exchange here on Tuesday, Minister Pandey said trading in stock market will be guided by basic economic indicators in the long run despite the role of psychological factor. Expressing commitment for the development of capital market, Pandey said the Central Depository System (CDS) which is at the final stage of implementation-- would bridge existing gap between increasing supply and demand of shares in the secondary market.
Finance Secretary Rameshwar Khanal said the government should end its influence in the capital market. "Investors expect government intervention at the time of both bullish and bearish period in stock trading. But we need to consider the fact that the government´s intervention in the capital market is not appropriate," said Khanal.
Dr Surbir Poudel, chairman of Securities Board of Nepal (SEBON), stressed on the need for effective coordination among stockholders, including SEBON and Nepal Stock Exchange, while formulating policy on capital market.
Krishna Bahadur Manadhar, deputy governor of Nepal Rastra Bank, said role of the central bank was necessary in regulating capital market, dominated by financial institutions. Shankar Man Singh, general manager of Nepal Stock Exchange elaborated the significance of the interaction.
Source:Republica
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