KATHMANDU: Economic Digest (weekly) offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
This week, the Nepal Stock Exchange (NEPSE) showed a strong recovery, ending with a turnover of Rs 22.16 billion over four trading days, due to a public holiday.
The NEPSE Index closed at 2,597.49, up 110.73 points (4.45%) from the previous week’s 2,486.76, which had seen a decline.
The index experienced significant volatility, peaking at 2,643.76 and dipping to 2,442.61. Tuesday marked the highest intraday gain with a rise of 114.70 points and a turnover of Rs 7.61 billion.
Meanwhile, gold prices hit a record high of Rs 161,300 per tola after increasing by Rs 400, while silver rose to Rs 1,980 per tola.
Additionally, recent floods and landslides caused approximately Rs 25 billion in damage to road infrastructure, with Rs 3 billion needed for temporary repairs and full reconstruction costs potentially reaching Rs 20-25 billion, as efforts to clear debris from affected roads continue.
NEPSE ends week with turnover of Rs 22.16 billion
This week’s performance of the Nepal Stock Exchange (NEPSE) showcased a notable recovery, ending with a turnover of Rs 22.16 billion over four trading days, impacted by a public holiday.
The NEPSE Index closed at 2,597.49, reflecting a significant increase of 110.73 points (4.45%) from the previous week’s closing of 2,486.76, which had seen a decline of 3.49%.
The index experienced considerable volatility, peaking at 2,643.76 and dipping to 2,442.61, marking a range of 201.12 points, slightly higher than the previous week’s volatility.
The most significant intraday gain was recorded on Tuesday, with the index rising by 114.70 points and a robust turnover of Rs 7.61 billion, indicating a strong market response and increased investor activity during the week.
Gold prices soar to new heights
The price of gold has once again set a new record, rising to unprecedented levels.
The price of gold increased by Rs 400 per tola on Friday, reaching an all-time high of Rs 161,300.
According to the Nepal Gold and Silver Traders Federation, this is the highest price ever recorded. On Thursday, gold was priced at Rs 160,900 per tola.
In addition, the price of silver also saw an uptick. Silver increased by Rs 30 per tola, and was traded at Rs 1,980, up from Rs 1,950 Thursday.
Floods and landslides cause Rs 25 billion damage to road infrastructure
Recent floods and landslides have caused approximately Rs 25 billion in damage to road infrastructure.
An estimated Rs 3 billion is required for temporary repairs, while full reconstruction costs could reach Rs 20-25 billion.
Minister for Physical Infrastructure and Transport, Devendra Dahal, reported on the significant impact of the disasters that occurred on September 27-28, affecting 34 highways at 805 locations.
So far, debris has been cleared from 774 sites as efforts to restore roadways are ongoing.
(Prepared by Srija Khanal)
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