KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The NEPSE Index on Monday rose by 37.13 points, or 1.39%, closing at 2,690.72, continuing a positive trend that has seen it gain approximately 93.22 points over the past two trading days.
The session was marked by volatility, with the index fluctuating between 2,656.35 and 2,707.16 points, reflecting strong investor sentiment and active participation, as evidenced by a turnover of Rs. 7.09 billion from 305 traded stocks.
Meanwhile, gold prices fell by Rs 500 per tola to Rs 160,500, while silver decreased by Rs 5 to Rs 1,980, indicating shifting demand influenced by global market conditions.
Additionally, domestic and foreign hydropower companies and financial institutions contributed significant amounts to the Prime Minister Disaster Relief Fund, including Rs 10 million each from India’s NHPC and Arun-III Jal Vidyut Project Limited, highlighting a collaborative effort to support disaster relief efforts.
NEPSE Index rises by 37.13 points to close at 2,690.72
The NEPSE Index on Monday saw an increase of 37.13 points, or 1.39%, closing at 2,690.72. This uptick is part of a larger upward trend, with the index having gained approximately 93.22 points over the last two trading days, following a rise of 56.09 points on the previous day.
The trading session itself was marked by volatility; the market opened at 2,656.8 points, dipped to an intraday low of 2,656.35, and then surged to a peak of 2,707.16 points.
This fluctuation highlights the dynamic nature of the market and reflects the ongoing investor sentiment, which appears to be optimistic in light of recent gains.
A total of 305 stocks were traded across 73,119 transactions, leading to a substantial turnover of Rs. 7.09 billion with 15,845,449 shares exchanged.
The active trading volume and high turnover indicate strong market participation, suggesting that investors are responding positively to the recent trends.
Overall, the NEPSE’s upward movement can be seen as a sign of regained investor confidence, potentially driven by favorable economic indicators or positive developments within key sectors.
Gold price down on Monday
The price of gold in the domestic market dropped by Rs 500 per tola on Monday.
The decline in gold and silver prices in reflects a variety of economic dynamics and consumer behaviors. On Monday, gold saw a decrease of Rs 500 per tola, dropping to Rs 160,500, while silver fell by Rs 5 per tola to Rs 1,980. Such fluctuations often indicate shifts in demand, possibly influenced by global market conditions, currency strength, or investor sentiment.
The decrease in gold prices may suggest reduced demand or a stabilization following a previous rise, while the adjustment in silver prices usually parallels movements in the gold market.
For consumers, these drops could stimulate purchases as individuals look for favorable price points; however, if prices are expected to decline further, some may choose to hold off on buying.
Hydropower Companies and Financial Institutions contribute to PM Disaster Relief Fund
Domestic and foreign hydropower companies, along with financial institutions, have made significant contributions to the Prime Minister Disaster Relief Fund.
Notable contributions include Rs 10 million each from India’s National Hydropower Corporation (NHPC) and Arun-III Jal Vidyut Project Limited, as well as Rs 10 million from Prabhu Bank, and Rs 3.1 million from Prime Commercial Bank.
Additionally, Rs 2.5 million was contributed by Prabhu Insurance Limited, Prabhu Mahalakshmi Life Insurance, and Prabhu Capital.
(Prepared by Srija Khanal)
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