Nepse plunges by 31. 31 points on Thursday
The Nepal Stock Exchange (NEPSE) plunged by 31. 31 points to close at 2,680.44 points on Thursday.
Similarly, the sensitive index dropped by 5. 53 points to close at 472. 97 points.
A total of 18,474,024-unit shares of 314 companies were traded for Rs 8. 25 billion.
Meanwhile, Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL) and Three Star Hydropower Limited (TSHL) were the top gainers today with their price surging by 10. 00 percent. Likewise, Janaki Finance Company Limited (JFL) was the top loser as its price fell by 10. 00 percent.
At the end of the day, the total market capitalization stood at Rs 4. 26 trillion.
Gold price increases by Rs 1, 000 per tola on Thursday
The price of gold has increased by Rs 1, 000 per tola in the domestic market on Thursday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 164, 000 per tola today. It was traded at Rs 163, 000 per tola on Wednesday.
The price of silver, however, has dropped by Rs 5 and is being traded at Rs 1,950 per tola today.
Nepse surges by 9. 09 points on Wednesday
The Nepal Stock Exchange (NEPSE) gained 9.09 points to close at 2,711.75 points on Wednesday.
Similarly, the sensitive index surged by 0.34 points to close at 478. 50 points.
A total of 15,464,552-unit shares of 323 companies were traded for Rs 7. 09 billion.
Meanwhile, Corporate Development Bank Limited (CORBL), Sindhu Bikash Bank Ltd (SINDU), Nepal Hydro Developers Ltd. (NHDL), Saptakoshi Development Bank Ltd (SAPDBL) and Mahila Lagubitta Bittiya Sanstha Limited (MLBSL) were the top gainers today, with their price surging by 10. 00 percent.
Likewise, Gurans Laghubitta Bittiya Sanstha Limited (GLBSL) was the top loser as its price fell by 10.00 percent.
At the end of the day, total market capitalization stood at Rs 4. 31 trillion.
Remittances hit Rs 407.31bn in Q1
The country has received Rs 407.31bn in remittances in the first three months of the current fiscal year (2024-25).
“Remittance inflows increased 11.5 percent to Rs 407.31bn in the review period compared to an increase of 25.8 percent in the corresponding period of the previous year,” Nepal Rastra Bank (NRB) stated in the Current Macroeconomic and Financial Situation of Nepal Report, which is based on three months’ data ending mid-October.
In US dollar terms, remittance inflows reached $3.04bn in the review period which was $2.76bn in the same period of the previous year, according to the NRB.
The central bank said the number of Nepali workers taking first-time approval for foreign employment stands at 110,654 and taking approval for renewed entry stands at 59,939 in the past three months. In the review period of the previous year, the number of workers taking time-time approval for foreign jobs was 113,397.
A surplus of Rs 111.87bn
The current account of the government remained at a surplus of Rs 111.87bn in the review period compared to a surplus of Rs 59.65bn in the same period of the previous year. “In the review period, net capital transfer amounted to Rs 2bn and foreign direct investment inflow (equity only) remained at Rs 4.81bn,” according to the NRB.
Meanwhile, the Balance of Payments (BOP) remained at a surplus of Rs 184.99bn in the review period while it was at a surplus of Rs 101.66bn in the corresponding period of the previous year.
The report stated that the gross foreign exchange reserves increased 9.4 percent to Rs 2,232.28bn in mid-Oct 2024 from Rs 2,041.1bn in mid-July 2024.
It said that the year-on-year unit value export price index, based on customs data, increased 2.9 percent and the import price index decreased 3.5 percent in the past three months. The terms of trade index increased by 6.5 percent in the review period.
The net services income remained at a deficit of Rs 23.29bn in the review period compared to a deficit of Rs 29.39bn in the corresponding period of the previous year.
Trade goes down
During the three months, the country’s exports and imports decreased by 6.1 percent and 4.2 percent, respectively. The exports decreased by 6.1 per cent to Rs 38.38bn compared to a decrease of 2.3 percent in the same period of the previous year. Exports to India, China and other countries decreased by 5.3 percent, 24.8 percent and 6.6 percent, respectively whereas the export of soybean oil, tea, particle board, shoes, sandals and oil cakes increased even as exports of zinc sheet, palm oil, cardamom, juice and readymade garments decreased in the review period.
The imports decreased 4.2 percent to Rs 390.75bn compared to an increase of 1.7 percent a year ago. Destination-wise, imports from India, China and other countries decreased 3.9 percent, 1.5 percent and 7.9 percent, respectively.
The total trade deficit decreased four percent to Rs 352.37bn during the first three months of the current fiscal year against a 2.1 percent increase in the corresponding period of the previous fiscal. The export-import ratio decreased to 9.8 percent in the review period from 10 percent in the corresponding period of the previous year.
The consumer price increased by 4.82 percent in mid-October compared to 7.5 percent a year ago. Food and beverage inflation stood at 7.18 percent whereas non-food and service inflation stood at 3.49 percent in the review period.
Under the food and beverage category, the year-on-year price index of vegetables increased by 25.15 percent, pulses and legumes by 10 percent, cereal grains and their products by 9.57 percent and ghee and oil by 4.98 percent but the price index of meat and fish sub-category decreased 1.18 percent.
