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The Nepal Stock Exchange (NEPSE) gained 32.24 points to close at 2,695.55 points on Sunday.

Similarly, the sensitive index surged by 4.50 points to close at 450. 79 points.

A total of 15,572,862-unit shares of 323 companies were traded for Rs 7. 56 billion.

Meanwhile, Joshi Hydropower Development Company Ltd (JOSHI) was the top gainer today, with its price surging by 9. 97 percent. Likewise, Prabhu Smart Fund (PRSF) Limited was the top loser as its price fell by 5.79 percent.

At the end of the day, total market capitalization stood at Rs 4. 47 trillion.

The price of gold has reached an all-time high of Rs 176, 800 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of precious yellow metal has increased by Rs 600 per tola today. It was traded at Rs 176, 200 per tola on Friday.

Similarly, the price of silver has increased by Rs 15 and is being traded at Rs 2,025 per tola today.

The Sichuan Series of Celebrations on China-Nepal 70th Anniversary of Diplomatic Relations and the Sichuan-Nepal Culture, Tourism, Economy and Trade Exchange Month commenced with an inaugural event held at Chengdu, China. 

The event held on Friday was jointly organized by Foreign Affairs Office of the Sichuan Provincial Government and the Consulate General of Nepal in Chengdu.

Speaking at the event, Director General of Foreign Affairs Office of Sichuan Province, Zhang Tao, reiterated the recent progress in connectivity between Nepal and Sichuan, highlighting the momentum of socio-cultural exchanges in the past year.

In his remarks, Ambassador of Nepal to China, Krishna Prasad Oli, reminisced about the historical ties shared by the two countries and more importantly, the bonds shared by the people of these countries. 

Chief Executive Officer of Nepal Tourism Board, Deepak Raj Joshi, stated that Nepal is ready to welcome Chinese tourists and offer them an unforgettable experience in every corner of Nepal. 

The Consul General confirmed the Consulate’s readiness to facilitate and encourage all forms of trade, tourism and cultural exchange initiatives between Sichuan and Nepal.

The event included performances from Chinese performers and Himali Cultural Group, who arrived in Chengdu for Sichuan-Nepal Culture, Tourism, Economy and Trade Exchange Month.

Various Nepali products were showcased by Nepali exhibitors during the event. During the month-long Sichuan series, Nepali local products’ exhibition and cultural exchange events will be held in different cities of Sichuan Province.

The Sichuan series is also expected to enhance integrated and robust cultural, trade, economic and people-to-people exchange between Nepal and Sichuan, according to the Consulate General of Nepal in Chengdu, China.

Interest rates on bank loans have been steadily declining over the past few months with banks, flush with loanable funds, not getting sufficient demands for credit.

Despite a gradual improvement in credit disbursement, the base rate—the minimum interest rate used to determine loan pricing—has continued to drop. According to the Nepal Bankers’ Association, commercial banks disbursed Rs 4,850bn in loans over the first eight months of the current fiscal year (mid-July to mid-March), marking a 6.12 percent increase. As of mid-July last year, total outstanding loans stood at Rs 4,570bn. Nepal introduced the base rate system in the fiscal year 2012-13 to enhance transparency in interest rate determination. It includes clearly identifiable cost components, ensuring competitive and fair loan pricing.

The average base rate of commercial banks for the month of Chaitra (mid-March to mid-April) has dropped to 6.48 percent from 6.62 percent in the previous month (mid-February to mid-March). Four banks now have base rates below six percent, with Standard Chartered Bank offering the lowest at 5.03 percent. Rastriya Banijya Bank follows at 5.28 percent, while Everest Bank and Nepal Bank stand at 5.46 percent and 5.96 percent, respectively. NIC Asia has the highest base rate at 7.41 percent, while the base rates of 14 Class ‘A’ banks remain below seven percent. Prime Commercial Bank Ltd is the only other institution with a rate above seven percent.

All commercial banks reduced their base rates for Chaitra (March 14-April 13). Machhapuchhre Bank saw the sharpest cut (0.22 percent), lowering its rate from 6.9 percent to 6.68 percent, while Citizens Bank International made the smallest adjustment (0.06 percent), reducing its rate from 7.01 percent to 6.95 percent.

The decline in base rates is driven by surplus liquidity in the banking system, which has also led to a rapid reduction in deposit interest rates. Since loan interest rates are calculated by adding a premium to the base rate, the drop has made borrowing cheaper.

Despite lower interest rates, loan demand remains weak, leaving banks with over Rs 600bn in surplus investable funds. To attract borrowers, many are offering loans with minimal premium charges. Meanwhile, deposits grew by 4.9 percent to Rs 6,037bn in eight months—up from Rs 5,754bn in mid-July last year.