NEPSE down by 0.49 pts at 542.35

After the upheaval performance of yesterday, the market momentum came to a steady pace today.

Following the opening from prior day’s closing, the local bourse came to incline by one point in the initial hour of trade but failed to sustain in the latter hours leading to 0.49 points loss by the end of the session.

The volatility in the market today was less than that of yesterday as the secondary market traded only within one point range from previous day’s closing level.

Insurance Board to intervene in Everest Insurance

Everest Insurance Company will now have to answer to the insurance regulator — Insurance Board (IB) — for shutting down its business for the last two weeks.

The board, which had been observing the situation passively so far, is preparing to summon the company’s management and board. “Everest Insurance has not been operating its normal business since the last 12 days without informing the regulator the reasons behind it and it is now time for us to stop waiting for them to approach us,” said chairman of IB Dr Fatta Bahadur KC.