KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The developments in Nepal’s financial markets highlight a mix of stability and challenges.
The Nepal Stock Exchange (NEPSE) saw a minor decline of 21.12 points, signaling a slight retreat after a modest gain in the previous session.
Despite fluctuations during the day, the market turnover remained robust, indicating active participation.
Meanwhile, the government’s introduction of an ordinance to regulate cooperatives aims to safeguard depositors’ funds, reflecting the government’s efforts to strengthen the financial sector’s integrity.
In the precious metals market, gold and silver prices experienced fluctuations, highlighting ongoing volatility.
Additionally, Citizens Super 30 Mutual Fund reported a decrease in its Net Asset Value (NAV), reflecting the challenges faced by investment funds in the current economic environment.
On a positive note, Himalayan Capital’s investment literacy initiatives in Karnali Province reflect a commitment to educating the public and fostering long-term market participation.
NEPSE experiences decline of 21.13 points
The Nepal Stock Exchange (NEPSE) on Sunday experienced a decline of 21.12 points, or 0.80%, closing at 2,609.58.
This follows a modest increase of 4.19 points in the previous session, indicating a stable market sentiment.
The index opened at 2,631.98 and fluctuated throughout the day, reaching a peak of 2,641.17 and a low of 2,601.84.
The total turnover amounted to Rs. 5.47 billion, with 66,774 transactions involving 11,099,239 shares from 316 companies. The microfinance sector saw the highest gains.
Govt issues ordinance to regulate cooperatives
The government introduced an ordinance to regulate cooperatives and safeguard savers’ funds by amending key laws, including the Cooperatives Act, 2074, Nepal Rastra Bank Act, 2058, and Deposit and Credit Guarantee Fund Act, 2073.
Enacted by President Ram Chandra Poudel on Sunday following a recommendation from the Council of Ministers, the ordinance aims to ensure the return of depositors’ funds.
Minister for Communications and Information Technology, Prithvi Subba Gurung, emphasized its importance during a recent program in Kathmandu. The ordinance will take effect upon its publication in the Gazette.
Gold price drops after recent gains
The price of gold experienced significant fluctuations in the past few days, initially rising by Rs 600 per tola on Thursday and Rs 400 per tola on Friday, but on Sunday it has decreased by Rs 500 per tola.
As a result, the price of gold was Rs 150,200 per tola on Sunday, down from Rs 150,700 last Friday.
Similarly, silver prices also dropped, with silver priced at Rs 1,790 per tola, a decrease of Rs 25 from last Friday’s price of Rs 1,815.
This indicates a recent trend of volatility in the precious metals market, reflecting market forces that are causing short-term price fluctuations.
Citizens Super 30 Mutual Fund sees NAV drop in Mangsir
Citizens Capital’s three mutual funds reported a decline in their Net Asset Value (NAV) for Mangsir. The “Citizens Super 30 Mutual Fund (C30MF)” released its NAV for the month, showing a decrease from Rs. 11.25 last month to Rs. 10.86 this month.
This closed-end fund, with a 10-year maturity period, has a total fund size of Rs. 75.07 crores.
It has invested Rs. 57.14 crores in listed shares, Rs. 6 crores in fixed return assets, Rs. 3.25 crores in debentures, and Rs. 14.87 crores in bank balances.
The fund’s net profit also decreased, now standing at Rs. 6.12 crores, compared to Rs. 9.07 crores the previous month.
Himalayan Capital promotes investment literacy in Karnali Province
Himalayan Capital Limited, committed to promoting sustainable development in the capital market, recently conducted investment literacy sessions for students in Karnali Province.
The sessions, led by Compliance Head Nimesh Prasad Adhikari, covered topics such as the fundamentals of investing, capital markets, securities trading, portfolio diversification, and utilizing digital services.
(Prepared by Srija Khanal)
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