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The Nepal Stock Exchange (NEPSE) plunged by 20. 00 points to close at 1,888.55 points on Sunday. Similarly, the sensitive index dropped by 20. 01 points to close at 1, 888. 54 points. A total of 3,787,241-unit shares of 260 companies were traded for Rs 1. 20 billion. Meanwhile, Kalinchowk Darshan Limited was the top gainer today with its price surging by 9. 96 percent. Likewise, Swabhimaan Laghubitta Bittiya Sanstha Limited was the top loser with its price dropped by 9. 61 percent. At the end of the day, the total market capitalization stood at Rs 2. 73 trillion.  

The Rastriya Prajatantra Party has finalized candidates for the by-elections in three constituencies. A Parliamentary Committee meeting of the RPP held on Sunday decided to make Shova Guru as a candidate in Tanahun and Sone Lal Sah and Jeevan Puri as the candidates in Bara and Chitwan respectively. The Janata Samajbadi Party has decided to field Upendra Yadav and the Rastriya Swatantra Party has decided to field Ramesh Kharel for the elections slated for April 23.    

Nepal Federal Socialist Party Chairman and former Home State Minister Mohammad Rijwan is going to be a candidate from the Nagarik Unmukti Party. He has decided to file a nomination from the Nagarik Unmukti Party in the by-election of Bara-2 slated from April 23. The two parties have made a two-point agreement. Nagarik Unmukti Party spokesperson Damodar Pandit said that they have agreed to unite the party at the earliest by forming a task force. He said that the party has also decided to file nominations in Chitwan and Tanahun. The party has decided to make Rajesh Adhikari a candidate in Chitwan-2 and Bhim Sunar in Tanahun 1. The Nagarik Unmukti Party is associated with the current ruling alliance. Party Chairperson Ranjita Shrestha was appointed as the Minister for Land Management, Cooperatives and Poverty Alleviation in the recently expanded Cabinet. The Nagarik Unmukti Party has four lawmakers in the federal Parliament. Upendra Yadav and Ramesh Kharel have decided to file nominations from the Janata Samajbadi Party and Rastriya Swatantra Party respectively in Bara-2.

The Nepali Congress has decided to support Upendra Yadav in Bara-2. Party Joint General Secretary Badri Pandey said that a Central Work Execution Committee held on Sunday has decided to make Yadav a common candidate in the by-election slated for April 23. In the meeting, the leaders discussed the by-election. Earlier, the Congress had decided to field Govinda Bhattarai in Tanahun-1 and Jit Narayan Shrestha in Chitwan-2.

The price of gold has dropped by Rs 600 per tola in the domestic market on Sunday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow bullion is being traded at Rs 108, 600 per tola today. The yellow metal was traded at Rs 109, 200 per tola on Friday. Meanwhile, tejabi gold is being traded at Rs 108, 100 per tola. It was traded at Rs 108, 700. The price of silver, however, has increased by Rs 10 and is being traded at Rs 1, 410.

The Nepal Student Union cadres staged a demonstration at the central office of the Nepali Congress on Sunday. Expressing dissatisfaction over the working style of NSU President Dujang Sherpa, they staged a hunger strike. They staged the hunger strike prior to the Central Work Execution Committee scheduled for today at the party office. They have also tied black bands on their heads. The disgruntled side has demanded that the decision made by Sherpa arbitrarily be scrapped at the earliest. They said that all the letters written by the unconstitutional president should be scrapped and also demanded that the 12th general convention be ensured. Ansul KC, who has been staging the strike at the party office in Sanepa, has demanded the formation of a new committee.  

Prime Minister Pushpa Kamal Dahal visited Maharajgunj-based Tribhuvan University Teaching Hospital (TUTH) to inquire about the health condition of President Ram Chandra Paudel. The Prime Minister’s Secretariat said that PM Dahal visited the hospital this morning. President Paudel was admitted to the TUTH on Saturday evening after he complained of persistent abdominal pain. During the visit, PM Dahal inquired about his health. President Paudel is currently under doctors’ observation.

After issuing a global tender for the construction of transmission lines in November 2022, the Millennium Challenge Accounts, Nepal (MCA-Nepal), the special purpose vehicle (SPV) formed to implement the MCC Nepal Compact, has also issued a global tender for constructing sub-stations. A year after the parliamentary ratification, the MCC Nepal Compact has gained momentum with the MCA-Nepal expediting works related to transmission lines and substations construction. As the Entry into Force of the compact program has been scheduled for August this year, the SPV has expedited these works. On March 24, MCA Nepal invited global bids for the construction of three substations of 400 KV capacity under the MCC project. Earlier, on 28 November 2022, the SPV called for global tenders for the construction of four transmission lines. The MCC implementing agency has called tenders for three 400 kV substations to be constructed at Ratmate, New Damauli, and New Butwal. It has invited tenders to build on design, supply, delivery, installation, testing, and commissioning model. As per the tender notice, firms interested in constructing the substation are required to submit bid security of  $425,000 for the first lot (Ratmate Substation), and $260,000 for the second lot (New Damauli Substation), and $270,000 for the third lot (New Butwal Substation). Meanwhile, MCA Nepal has extended the deadline for the tender called for the construction of the transmission lines. Earlier, it was said that the bids should be submitted by March 27. Now, the deadline for bid submission has been extended to April 17. MCA Nepal is constructing four transmission lines of 400 KV double circuit capacity and invited tenders in three packages. Under the first package, Lapsiphedi-Ratmate-New Hetauda (117 km) will be built while Ratmate-New Damauli (90 km) will be constructed under the second package. Under the third package, New Damauli-New Butwal (108 km) will be constructed. The 315 km long transmission line will have 856 towers. Currently, the work of purchasing the land required for this is underway. The construction of the project under the MCC is bound to be completed within five years of its commencement, i.e. within 2028 August. With both sides agreeing to start entry into force of the agreement in August this year, the MCA Nepal is facing a race against time to complete the preparatory works. Following the entry into force, all implementation activities must be completed within five years, as there are no provisions for time extension or cost increase. Otherwise, funds allocated for Nepal will be returned to the US.