NEPSE’s new online platform full of glitchesAs technical glitches at Nepal’s only capital market continue for the second consecutive day, the confidence of investors in the market has been shaken.
As technical glitches at Nepal’s only capital market continue for the second consecutive day, the confidence of investors in the market has been shaken. The Nepal Stock Exchange (NEPSE) fell 12.44 points on Monday to settle at 1,193.34 points, and market analysts say that this decline is the result of investors’ losing confidence on the online trading system.
The much-awaited, full-fledged online platform has been facing glitches every day since Nepse introduced it on November 6. This is the third consecutive day that the secondary market has witnessed a slump despite Nepse’s claim that it has improved the functioning of its new online platform named Nepse Online Trading System (NOTS).
Despite the slouch, there was, however, a slight gain in transaction amount that stood at Rs133.81 million on Monday’s trading.
Nepse’s Spokesperson Murahari Parajuli said that NOTS was functioning almost smoothly on Monday. “There were a few incidents of the website failing to display real-time trading during the day, but besides that almost all the functions have now come in place,” said Parajuli, adding that despite the technical glitches, trading was not disrupted.
Stockbrokers have also acknowledged that the new system has indeed improved in comparison to its performance on the first trading day in which the system was implemented. “The fall in trading volume could also be a result of the low trust investors had in the new online platform,” said a stockbroker under the condition of anonymity.
Following the technical glitches of the website, Nepse issued a press statement on Monday stating that the entity had not altered the mechanism of trading and calculating the market index. “The variation in the information displayed at different stockbrokers could be due to the difference in time lag in which the stockbrokers posted the purchase/sale orders,” reads the Nepse press statement.