KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
In the past two days, the NEPSE Index has fallen by 107.76 points, with the most recent drop of 57.03 points, or 2.16 percent, leaving it at 2,580.76.
This decline follows a previous loss of 50.73 points and occurred amidst a trading session involving 312 companies, 92,815 trades, and a turnover of Rs. 7.36 billion.
Meanwhile, gold prices have reached a new record high of Rs 157,300 per tola, marking a significant increase from the previous rate of Rs 156,800 per tola.
Additionally, the Parliamentary Inquiry Special Committee has recommended action against several individuals, including Rabi Lamichhane and Chabilal Joshi, over allegations of embezzling Rs 85 crore from cooperatives.
On the infrastructure front, the national grid has extended electricity to Susta Rural Municipality-5 in Nawalparasi by establishing a new transmission line across the Narayani River.
NEPSE index drops 107.76 points in two days
The NEPSE Index experienced a decline of 57.03 points, or 2.16 percent, ending the latest trading day at 2,580.76.
This drop follows a previous loss of 50.73 points. During the trading session, the index opened at 2,635.97 points, peaked at 2,637.52 points, fell to a low of 2,570.62 points, and closed at 2,580.76 points.
The session involved transactions from 312 companies, with 92,815 trades executed and a total turnover of Rs. 7.36 billion.
A total of 17,061,807 shares were exchanged. The market capitalization stood at Rs. 4.10 trillion, with the float market capitalization at Rs. 1.44 trillion.
Gold prices hit record highs today
Gold prices have surged to new record highs, continuing an upward trend for the past three days.
According to the Federation of Nepal Gold and Silver Traders, the price of gold has risen by Rs 500 today, reaching Rs 157,300 per tola.
On Sunday, gold was priced at Rs 156,800 per tola, making today’s price the highest ever recorded.
Action recommended against Rabi Lamichhane, Chabilal Joshi, Kumar Ramtel, and GB Rai
The Parliamentary Inquiry Special Committee has recommended action against Kumar Ramtel, GB Rai, Rabi Lamichhane, and former DIG Chabilal Joshi.
They have been accused of embezzling Rs 85 crore from various cooperatives while they were associated with Gorkha Media Network.
Currently, Ramtel is in jail, and GB Rai is absconding.
Rabi Lamichhane, who is also the Chairman of the Rastriya Swatantra Party (RSP), and former DIG Joshi, although not yet under investigation, are also included in the recommendation for prosecution.
National grid powers Susta as new transmission line vrosses Narayani river
Electricity from the national transmission grid has now been extended to Susta Rural Municipality-5 in Nawalparasi (Bardaghat Susta West), crossing the Narayani River to serve this remote area.
This development marks a significant step forward in the electrification of this isolated region, bordered by India on one side and encircled by the Narayani River on the remaining three sides.
The Nepal Electricity Authority (NEA) has established an 11 KV transmission line, approximately five kilometers long, from Sakardinayi, a locality within Susta Rural Municipality-5, bringing power to the Susta settlement across the river.
(Prepared by Srija Khanal)
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