Two brokers suspended at NEPSE

The Nepal Stock Exchange (NEPSE) has suspended two brokers suspecting their involvement in illegal share trading that led to unexpected fluctuations in share markets in the recent months.

Broker No 5, Market Securities Exchange and broker No 8, Ashutosh Brokarage and Securities have been accused of manipulating the rules.

Market Securities Exchange has been suspended for three days and Ashutosh Brokarage and Securities for a day's transaction.

"Broker No 5 was found manipulating rules on Thursday," reads a statement issued by the company. On the other hand, broker No 8 is being suspended finding it guilty during electronic surveillance.

An investigation was carried out after the fall in NEPSE index by 26.33 points on Thursday that rose continuously for last several days. Investigation revealed that the two companies were involved in buying and selling shares through All or Non (AON) using the same screen. nepalnews.com ia Aug 11 08