A sudden technical glitch caused the Nepse index to plummet by 1,000 points, or 37%, shortly after the stock market closed on Friday.
The error was not limited to the Nepse index, as other group indices also displayed incorrect figures. The glitch was visible on both the Nepse website and the Trading Management System (TMS).
Murahari Parajuli, spokesperson for Nepse, stated that an investigation is underway to determine the cause of the error. ‘Such a large change in the index is not normal, and we are looking into a technical issue. Our technical team is working to identify the problem and will provide a solution once it is resolved.’
This is not the first time Nepse has experienced technical issues. In the past, similar errors have occurred, including instances where the value of certain companies has been displayed as exceeding the price limit or dropping excessively.
Recurring Technical Issues
Despite the frequency of these problems, a permanent technical solution has yet to be implemented. The regulatory body, the Nepal Securities Board, and the government have repeatedly announced plans to modernize Nepse with technology-friendly policies and programs.
The recurring technical issues pose a risk of a major accident occurring in the future.
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