Business
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Gold price falls Rs 2,700 per tola, silver drops Rs 160
Gold and silver prices declined in Nepal’s domestic bullion market on Wednesday, with both precious metals recording significant drops compared with Tuesday. According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the price of gold fell Rs 2,700 per tola from Rs 306,800 on Tuesday to Rs 304,100 on Wednesday. Silver also recorded a sharp decline. Its price dropped Rs 160 per tola, falling from Rs 4,755 on Tuesday to Rs 4,595 on Wednesday.
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Ncell IoT SIM to bring connected services to BYD vehicles in Nepal
Ncell and Cimex Inc., the authorised distributor of BYD vehicles in Nepal, have partnered to introduce connected vehicle services by installing Ncell’s Internet of Things (IoT) SIM in BYD vehicles sold in the country. Under the agreement, every new BYD vehicle will be equipped with an Ncell IoT SIM, allowing customers to access online services and digital entertainment directly through the vehicle’s system without requiring additional hardware, a Wi-Fi hotspot or a connected mobile phone.
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Government forms task force to study reopening of Birgunj Sugar Mill after 27 years
The government has formed a task force to examine the possibility of reopening the Birgunj Sugar Mill, which has remained shut for nearly 27 years. The task force has been formed under the coordination of Shrikant Yadav, chief divisional engineer at the Ministry of Industry, Commerce and Supplies. The formation follows a Cabinet decision directing the government to assess the condition of the defunct factory and examine previous decisions, studies and reports concerning its potential revival. The task force will also recommend the measures that would need to be taken to move the process forward.
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NEPSE falls 19.34 points to 2,622.48 as 218 companies decline
The Nepal Stock Exchange (NEPSE) index fell 19.34 points to close at 2,622.48 points on Tuesday, ending the trading session in the red despite fluctuations throughout the day. The market moved unevenly from the opening, with the NEPSE briefly attempting to approach the 2,650-point level during trading. However, the index failed to sustain the upward movement and settled at 2,622.48 points by the close. A total of 15.1 million shares of 347 companies changed hands through 55,246 transactions. The total turnover reached Rs 5.073 billion.
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NEA net profit falls 49.2 percent to Rs 5.04 billion
The Nepal Electricity Authority (NEA) recorded a net profit of Rs 5.04 billion in the last fiscal year, down 49.2 percent from Rs 8.06 billion a year earlier. The state-owned power utility’s net earnings declined by Rs 3.97 billion year-on-year, continuing a downward trend in recent years. The authority had posted a net profit of Rs 13.31 billion in fiscal year 2023/24. According to NEA officials, fluctuations in the US dollar exchange rate were a key factor behind the decline. The authority’s financial liabilities related to exchange-rate fluctuations increased 272.86 percent to Rs 11.51 billion.
Markets
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Gold price falls Rs 2,700 per tola, silver drops Rs 160
Gold and silver prices declined in Nepal’s domestic bullion market on Wednesday, with both precious metals recording significant drops compared with Tuesday. According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the price of gold fell Rs 2,700 per tola from Rs 306,800 on Tuesday to Rs 304,100 on Wednesday. Silver also recorded a sharp decline. Its price dropped Rs 160 per tola, falling from Rs 4,755 on Tuesday to Rs 4,595 on Wednesday.
No Image Available
NEPSE falls 19.34 points to 2,622.48 as 218 companies decline
The Nepal Stock Exchange (NEPSE) index fell 19.34 points to close at 2,622.48 points on Tuesday, ending the trading session in the red despite fluctuations throughout the day. The market moved unevenly from the opening, with the NEPSE briefly attempting to approach the 2,650-point level during trading. However, the index failed to sustain the upward movement and settled at 2,622.48 points by the close. A total of 15.1 million shares of 347 companies changed hands through 55,246 transactions. The total turnover reached Rs 5.073 billion.
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Gold price unchanged at Rs 306,800 per tola, silver falls Rs 15
The price of gold remained unchanged in Nepal’s domestic market on Tuesday, while silver became slightly cheaper. According to the Federation of Nepal Gold and Silver Dealers’ Association, hallmark gold is being traded at Rs 306,800 per tola on Tuesday, the same price recorded on Monday. The price of gold has also been fixed at Rs 263,030 per 10 grams. Meanwhile, silver declined by Rs 15 per tola. After being traded at Rs 4,770 per tola on Monday, its price fell to Rs 4,755 on Tuesday.
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Gold price rises Rs 3,600 per tola to Rs 305,200
The price of gold in Nepal’s domestic market increased by Rs 3,600 per tola on Sunday, while silver became Rs 50 more expensive compared with Friday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of hallmark gold has been fixed at Rs 305,200 per tola for Sunday. Gold was traded at Rs 301,600 per tola on Friday. Similarly, the price of silver has been set at Rs 4,710 per tola, up from Rs 4,660 on Friday.
