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 on Monday fell by 59.02 points (2.28%), closing at 2,529.33 after a day of volatility.
The index fluctuated between a high of 2,608.43 and a low of 2,517.79, with 329 securities traded across 77,153 transactions, generating a turnover of Rs. 5.66 billion.
Meanwhile, gold prices in Nepal surged to an all-time high of Rs 159,200 per tola, reflecting strong demand amid economic uncertainties.
In other news, the Nepal Tourism Board will participate in the World Travel Market in London for the first time in two years, while Bhat-Bhateni Supermarket is offering substantial discounts on various products for the upcoming Dashain, Tihar, and Chhath festivals.
Additionally, the government has announced free electricity for about one million low-income customers who consume less than 20 units per month.
NEPSE index falls by 59.02 points
The Nepal Stock Exchange (NEPSE) Index on Monday experienced a significant decrease of 59.02 points (2.28%), closing at 2,529.33, after a slight gain in the previous session.
Throughout the day, the index showed volatility, beginning at 2,607.86 points, reaching a peak of 2,608.43, and dropping to a low of 2,517.79 before finalizing its position.
During today’s trading, 329 securities were exchanged over 77,153 transactions, totaling 13,535,903 shares and generating a turnover of Rs. 5.66 billion.
Gold prices set new all-time high
The surge in gold prices in Nepal, which have hit an all-time high of Rs 159,200 per tola, indicates a strong demand for gold as a safe-haven asset amid economic uncertainties.
The increase of Rs 400 on Monday from the previous day’s price highlights the volatility often seen in precious metal markets.
The backdrop of a record-setting month in August suggests that this trend may be part of a broader movement influenced by various factors, such as inflation concerns, currency fluctuations, or geopolitical tensions.
The fact that silver prices have remained stable at Rs 1,920 per tola, in contrast to the rising gold prices, could imply that investors are currently favoring gold over silver, perhaps due to its perceived safety and value retention.
NTB participating in WTM London after two years
KATHMANDU: The Nepal Tourism Board (NTB) will participate in the World Travel Market (WTM) London for the first time in two years, scheduled for November 5-7.
This event serves as a key platform to promote Nepal’s attractive destinations. NTB CEO Deepak Raj Joshi emphasized the importance of this participation in expanding international markets, marking it as a priority since his second term began on September 8.
The Board had previously missed opportunities to engage in international forums like WTM and ITB.
Bhatbhateni offers discounts for Dashain, Tihar, and Chhath
Bhat-Bhateni Supermarket is providing substantial discounts on a wide range of products in all its stores nationwide to celebrate the Dashain, Tihar, and Chhath festivals. This promotion will be available from October 3 to November 7.
According to a press release from Bhat-Bhateni, customers can enjoy discounts of 20 to 40 percent on various electronic items and 30 to 50 percent off kitchen products.
Additionally, ready-made garments and footwear are receiving a five percent discount, with select items marked down by up to 50 percent. International brand apparel and footwear will be offered at a remarkable discount of 70 percent.
Govt to provide free electricity to one million consumers
The government has granted free electricity to approximately one million customers.
According to the Ministry of Energy, Water Resources and Irrigation, this initiative targets domestic customers who consume less than 20 units of electricity per month.
The Nepal Electricity Authority (NEA), which serves over 5.6 million customers across domestic, industrial, and other sectors, reports that low-income households consuming up to 20 units are benefiting from this scheme.
NEA Spokesperson Chandan Kumar Ghosh confirmed that one million low-income households are currently enjoying free electricity.
(Prepared by Srija Khanal)
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