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Oil prices dropped over $1 a barrel on Wednesday amid doubts over US-China trade talks and easing concerns about global supply disruptions.Brent crude settled at $61.12, down $1.03, while US West Texas Intermediate fell $1.02 to $58.07, Reuters reported.

Investor sentiment fell as US-China trade talks, scheduled for Switzerland, were considered as unlikely to achieve results. At the same time, hints of progress in US-Iran nuclear talks have allayed concerns about restricted supplies from the OPEC supplier.

Gasoline stocks in the United States unexpectedly increased, increasing demand concerns as the summer driving season approaches. Although oil stockpiles declined by 2m barrels, the increase in gasoline negated optimistic optimism, according to Reuters.

Geopolitical tensions in the Middle East and signals of reduced investment from US producers provided some relief, but market volatility is set to linger.

The Nepal Stock Exchange (NEPSE) gained 61.26 points to close at 2,672.70 points on Wednesday.

Similarly, the sensitive index surged by 11.02 points to close at 451. 28 points.

 A total of 27,245,459-unit shares of 308 companies were traded for Rs 10. 51 billion.

Meanwhile, Nepal Micro Insurance Company Limited (NMIC) and Crest Micro Life Insurance Limited (CREST), with their price surging by 10. 00 percent.

Likewise, Nyadi Hydropower Limited (NYADI) was the top loser as its price fell by 4.43 percent.

At the end of the day, total market capitalization stood at Rs 4. 44 trillion.

Life insurance companies in the country generated business worth over Rs 126m over the first nine months of fiscal year 2024/25.

Third quarter data released by the Nepal Insurance Authority (NIA) shows 14 life insurance companies operating in the country sold 13.54m policies over the nine-month period, earning a total premium of Rs 126.18bn. This marks a growth of 14.62 percent compared to Rs 110.08bn that these companies had earned in the same period of the previous fiscal year.

These life insurers issued 507,615 policies and collected a total premium of Rs 17.46bn in the ninth month of the fiscal year (mid-March to mid-April). Similarly, three micro life insurance companies sold 70,863 policies, generating Rs 131.08m in premiums during the same period. The micro insurers have collected Rs 555.69m in premium in the nine-month period.

All 14 companies recorded business growth during the review period, data shows. Nepal Life led the market in terms of total premium collected, while Citizen Life and Rastriya Beema Company posted the highest growth rates. By mid-April, Nepal Life collected a total premium of Rs 33.01bn, up 12.1 percent from Rs 29.45bn in the same period last year. National Life ranked second with premium earnings of Rs 15.64bn, a 21.26 percent increase from last fiscal year’s Rs 12.89bn. LIC Nepal came third with its total premium rising by 9.39 percent to Rs 14.03bn from Rs 12.83bn in the nine-month period of the previous fiscal year.

By mid-April, Himalayan Life earned Rs 12.59bn in premiums, marking a modest growth of 2.16 percent compared to the same period last year. In contrast, Rastriya Jeevan Beema recorded a significant surge in business, with premium collections rising by 49.25 percent to reach Rs 8.16bn. Suryajyoti Life Insurance posted strong results as well, earning Rs 7.65bn, a 17.34 percent increase year-on-year. Similarly, Asian Life Insurance saw its premium income rise by 11.66 percent to Rs 6.46bn. Citizen Life also posted notable growth, collecting Rs 5.08bn in premiums, a 19.84 percent growth from the previous year.

Meanwhile, Sanima Reliance Life Insurance earned Rs 4.84bn, reflecting a 13.32 percent growth, while MetLife Insurance collected Rs 4.44bn, 7.52 percent more compared to the same period of the previous fiscal year. IME Life also saw its premium earnings rise by 14.64 percent to Rs 3.77bn, while Reliable Nepal Life Insurance posted a robust 23.75 percent growth to Rs 3.69bn.

Prabhu Mahalaxmi saw its premium collections rise by 19.96 percent to Rs 3.67bn, while Sun Nepal Life earned Rs 3.08bn, marking a 10.62 percent year-on-year growth.

The price of gold has increased by Rs 1, 700 per tola in the domestic market on Wednesday.

According to the Federation of Gold and Silver Dealers' Association, the precious yellow metal is being traded at Rs 191, 600 per tola today. It was traded at Rs 189, 900 per tola.

Similarly, the silver is being traded at Rs 1, 965 per tola.