Nepse plunges by 22.36 points on Sunday
The Nepal Stock Exchange (NEPSE) plunged by 22. 36 points to close at 2,464. 40 points on Sunday.
Similarly, the sensitive index dropped by 2. 56 points to close at 444. 89 points.
A total of 10,311,885-unit shares of 327 companies were traded for Rs 4. 05 billion.
Meanwhile, Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) was the top gainer today with its price surging by 6. 55 percent.
Likewise, Upper Syange Hydropower Limited (USHL) was the top loser aa its price fell by 9. 99 percent.
At the end of the day, the total market capitalization stood at Rs 1. 38 trillion.
Gold price drops by Rs 600 per tola on Sunday
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 metal is being traded at Rs 160, 600 per tola today. It was traded at Rs 161, 200 per tola on Friday.
Similarly, the price of silver has dropped by Rs 10 and is being traded at Rs 1,945 per tola today.
Gold price further soars to set new record
The price of gold increased by Rs 500 per tola (11.66 grams) today, the last day of the week, to set a new record of Rs 161,200 per tola in the domestic market.
On Thursday, the price was Rs 160,700 per tola, according to the Nepal Gold and Silver Dealers' Associations.
The price of silver, however, has remained unchanged compared to the previous day. Its price has been fixed at Rs 1,955 per tola today.
Sunil KC elected NICCI President
The 30th annual general meeting (AGM) of the Nepal-India Chamber of Commerce and Industry (NICCI) elected Sunil KC as its president for the next two years. KC is the managing director of Singati Hydro Energy Ltd.
KC has proposed establishing a NICCI branch office in New Delhi to create a permanent channel of communication between Indian and Nepalese businesses. “This will facilitate smoother trade and investment processes and provide a central hub for resolving any business-related issues,” he said.
Speaking during an event held in the capital recently, he shared that Nepal and India share immense potential to strengthen economic cooperation. However, there are gaps that still need to be bridged, particularly in attracting more Indian private investments into Nepal, which have declined in recent times. The private sector must play a pivotal role in our economic partnership, especially in areas like infrastructure, energy, tourism, digital economy, manufacturing, and innovation. He stressed that NICCI is committed to fostering these collaborations.
According to KC, one pressing issue is the long-standing challenge of exporting Nepali products to India. For instance, some Nepali shoe brands and agro-products like ginger and cardamom face numerous barriers that need resolution. Addressing these will not only boost Nepal’s economy but also ensure that Indian consumers can benefit from the high-quality goods Nepal produces. “We urge all stakeholders to prioritize this matter and work on a sustainable solution. The promotion of joint ventures in power projects is another key area where both nations can win,” said KC. “Nepal’s vast hydropower potential, when coupled with Indian expertise and investment, can lead to mutual prosperity. We encourage greater collaboration in this sector to harness our energy resources more efficiently.”
KC also proposed organizing a Nepal-India summit every year, stating that such a platform would allow stakeholders from both sides to discuss, debate, and resolve critical issues like foreign direct investment, trade facilitation, and economic growth.
"We also see immense value in establishing targeted partnerships with Indian state governments to focus on attracting FDI in specific sectors. Each Indian state offers unique opportunities, and fostering such collaborations will allow us to tailor investments to meet regional needs and goals." said KC.
KC, who is also the executive Committee member of Federation of Nepalese Chamber of Commerce and Industry (FNCCI) and managing director of Asia Corp., added that the time has come to focus on the future by setting up the Nepal-India Innovation and Entrepreneurship Center. “This initiative will support startups, promote innovation, and create opportunities for young entrepreneurs to collaborate across borders, driving sustainable growth and technological advancement,” he said.
