KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
On Thursday, the NEPSE Index saw a modest uptick of 0.24%, closing at 2,766.38 points, a slight rise from the previous session’s 108.35-point gain.
The index fluctuated throughout the day, reaching highs and lows of 2,811.15 and 2,744.86 points, respectively, with a total turnover of Rs. 20.07 billion.
In other news, Gandaki province has allocated Rs 30.9 million to dairy farmers, bolstering milk production with subsidies.
Meanwhile, gold prices in Nepal rose by Rs 300 per tola to Rs 146,600, reflecting market volatility.
The launch of the Agri-Digi-Tech Challenge aims to innovate Nepal’s agriculture sector, while Sona Polymers and Sona Packaging have resolved their tariff dues with the NEA amidst ongoing industry disputes.
NEPSE index up by 0.24 percent
The NEPSE Index closed at 2,766.38 points on Thursday, reflecting a modest increase of 6.70 points or 0.24% from the previous trading session.
This follows a rise of 108.35 points in the last session.
The index started the trading day at 2,772.84 points.
During the session, it hit an intraday low of 2,811.15 points and an intraday high of 2,744.86 points before ending the day at 2,766.38 points.
Today’s trading saw 322 stocks exchanged across 209,965 transactions, totaling 50,946,832 shares.
This resulted in a notable turnover of Rs. 20.07 billion.
The day’s market capitalization was Rs. 4.391 trillion, with the float market capitalization at Rs. 1.5 trillion.
Gandaki province grants Rs 30.9 million to dairy farmers
In the fiscal year 2023/24, the Gandaki province government granted Rs 30.9 million to dairy farmers based on milk production.
The Livestock and Fishery Development Directorate implemented the Production Based Incentive Support Program across 85 local levels in 11 districts, offering a Rs 2.50 per liter subsidy for 13,961 metric tonnes of milk produced by 64 cooperatives, exclusively for milk sold through cooperatives.
Last year, the program’s subsidy increment scheme received Rs 65.5 million. Meanwhile, Nawalparasi (Bardaghat Susta East) has achieved milk self-sufficiency, producing 146 liters per person annually, well above the World Health Organization’s recommendation of 91 liters, and now exports milk beyond local demand.
Gold traded at Rs 146,600 n Thursday
Gold prices in the domestic market rose by Rs 300 per tola on Thursday, with fine gold now priced at Rs 146,600 per tola, up from Rs 146,300 per tola on Wednesday, according to the Nepal Gold and Silver Dealers’ Association.
In contrast, the price of silver remains stable at Rs 1,690 per tola. This recent increase in gold prices reflects ongoing volatility in the precious metals market, indicating potential shifts in investment demand or market conditions affecting gold’s value.
Agri-Digi-Tech Challenge launched to boost Nepal’s agri-tech sector with support from Swiss agency
Beed Management Pvt Ltd and Tangent Waves have launched the Agri-Digi-Tech Challenge (ADTC) to drive digital innovation in Nepal’s agriculture sector.
Funded by The Swiss Agency for Development and Cooperation (SDC) through the DIGI Nepal project, this year-long initiative aims to support Nepali agri-tech startups and enterprises in enhancing agricultural productivity and sustainability.
The challenge will offer mentorship, technical assistance, and investment opportunities to accelerate digital solutions such as advisory platforms, agri-insurance, e-marketplaces, and more. Suman Shakya of Tangent Waves emphasized that the ADTC will act as a catalyst for transforming Nepal’s agricultural landscape through cutting-edge technology.
Sona Polymers and Sona Packaging settle outstanding tariff dues amid NEA dispute
Amidst the tariff dispute between the Nepal Electricity Authority (NEA) and industries, Sona Polymers and Sona Packaging have settled their outstanding dues.
Sona Polymers paid Rs 346,389, and Sona Packaging cleared Rs 355,067, both including a 25% penalty, for their use of dedicated and trunk lines from the Bhairahawa distribution center.
Sanjay Mishra, head of the Bhairahawa center, confirmed that these payments were recently made, and talks with other industries are still ongoing.
Forex: US dollar hits all-time high
The Nepal Rastra Bank has released today’s foreign currency exchange rates, highlighting a notable increase in the value of the US dollar, which has reached its highest level ever.
The buying rate for 1 US dollar is now 134.05 rupees and the selling rate is 134.65 rupees, surpassing yesterday’s rates.
In contrast, other currencies have seen slight declines or minimal changes: the euro is at 146.48 rupees for buying and 147.14 rupees for selling, the British pound is at 170.17 rupees for buying and 170.93 rupees for selling, the Australian dollar is at 87.85 rupees for buying and 88.24 rupees for selling.
Likewise, the Kuwaiti dinar is set at 438.19 rupees for buying and 440.15 rupees for selling, and the Bahraini dinar is at 355.63 rupees for buying and 357.22 rupees for selling.
(Prepared by Srija Khanal)
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