KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The Nepal Stock Exchange (NEPSE) Index concluded its last trading day before Dashain with a 0.18% gain, closing at 2,668.17 points after a decline of 27.39 points on the previous day.
Trading saw 294 stocks exchanged in 40,131 transactions, totaling 8,312,685 shares and a turnover of Rs. 3.76 billion, while market capitalization reached Rs. 4.24 trillion.
In foreign exchange, the US Dollar, Euro, and Bahraini Dinar experienced slight increases, contrasting with declines for the pound sterling and Australian dollar.
Notably, Singjema Lake in Taplejung is emerging as a popular tourism destination, situated at 4,700 meters and accessible via a day’s trek.
Additionally, over 200,000 Nepalis have returned from India through the Jamunaha border crossing for the Dashain festival, and around 800,000 passengers have already left the Kathmandu Valley, with expectations of up to one million departures for the celebrations.
NEPSE ends pre-Dashain trading day with 0.18% gain
The Nepal Stock Exchange (NEPSE) Index closed at 2,668.17 points, reflecting an increase of 4.85 points, or 0.18%, from the previous day’s closing.
This follows a significant decline of 27.39 points on the last trading day.
Trading commenced with the index opening at 2,661.8, dipping to an intraday low of 2,643.12, and reaching a high of 2,672.65.
On Wednesday, 294 different stocks were traded across 40,131 transactions, with a total of 8,312,685 shares exchanged and a turnover of Rs. 3.76 billion.
The market capitalization was recorded at Rs. 4.24 trillion, with a float market capitalization of Rs. 1.49 trillion.
US dollar, Euro, and Bahraini Dinar, witness slight increase
On Friday, Nepal Rastra Bank announced mixed foreign currency exchange rates.
The US Dollar, Euro, and Bahraini Dinar saw slight increases, while the pound sterling and Australian dollar declined.
The US Dollar’s buying rate rose to 134.06 rupees and the selling rate to 134.66 rupees, reflecting stable demand.
The Euro’s rates increased to 146.49 rupees (buying) and 147.24 rupees (selling), suggesting confidence in the Eurozone.
In contrast, the pound sterling dropped to 175.37 rupees (buying) and 176.16 rupees (selling), indicating weakening demand.
The Australian dollar also fell, with rates at 90.07 rupees (buying) and 90.47 rupees (selling).
The Kuwaiti Dinar remained unchanged, while the Bahraini Dinar slightly increased to 355.58 rupees (buying) and 357.17 rupees (selling). Overall, today’s trends indicate a stable but mixed foreign currency market in Nepal.
Talpejung’s Singjema Lake emerges as thriving tourism destination
Singjema Lake in Taplejung is gradually evolving into a sought-after tourism destination.
Situated at an altitude of 4,700 meters in ward number 7 of Phaktanglung Rural Municipality, within the Olangchungola area, this alpine lake offers a captivating blend of spiritual significance and natural beauty.
It is located a day’s trek from the nearest human settlement in Olangchungola, and its precise area and depth have yet to be measured.
Over 200,000 people enter via Jamunaha border crossing on their way home for Dashain
More than 200 thousand Nepalis who had gone to different places of India for employment have entered Nepal through the Jamunaha border crossing near Nepalgunj, on their way home to celebrate the Dashain festivities.
People had started coming home using this border transit point since the start of the Dashain festival period seven days back.
Two hundred thirty-five thousand and 556 Nepalis have entered Nepal from India through the Jamunaha inland border crossing in a period of 22 days from September 17 to October 8, said Police Inspector Upendra Bahadur Budhathoki, the Chief of the Area Police Office, Jamunaha.
Eight lakh people leave Kathmandu Valley for Dashain
Around 800 thousand passengers have already departed from the Kathmandu Valley to celebrate Dashain.
According to the Federation of Nepal Transport Entrepreneurs, approximately one million passengers will leave Kahtmandu Valley for Dashain this year.
Federation President Bijay Swar stated that they initially expected between 150,000 to 180,000 people to leave the Valley during Dashain.
(Prepared by Srija Khanal)
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