Today, the price of fine gold (per tola) has dropped by Rs. 600 compared to Tuesday’s trading price. According to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA), the current trading rate for fine gold is Rs. 1,12,400 per tola, down from the previous rate of Rs. 1,13,000 per tola.
Today, the Nepal Stock Exchange (NEPSE) Index closed at 2,106.18 points, showing a 0.27% increase from yesterday’s close. The index started at 2,097.85, went as low as 2,094.06, and reached a high of 2,126.57 during the day’s trading. It ended on a positive note, gaining 5.84 points after experiencing a decline of 26.14 points yesterday.
The price of gold has decreased by Rs. 900 per tola compared to yesterday’s rates. Today, fine gold is being traded at Rs. 112,600 per tola, whereas yesterday, it was at Rs. 113,500 per tola. Tejabi gold is now being traded at Rs. 112,050 per tola, whereas it was priced at Rs. 112,950 per tola yesterday.
The Nepal Stock Exchange (NEPSE) Index had a rough trading session today, closing at 2,164.31 points, which was a decline of 36.19 points or 1.64% compared to yesterday’s close. The index started at 2,202.99 and reached its highest point at 2,206.46 during the day. However, it experienced a downward trend throughout the session, hitting a low of 2,162.55 before settling at 2,164.31 at the end of the day. This follows yesterday’s decline of 26.66 points, making it a challenging period for the market.
Today, the price of gold in the domestic market has dropped by Rs. 500 per tola. Fine gold is now being traded at Rs. 112,300 per tola, compared to yesterday’s rate of Rs. 112,800 per tola. Tejabi gold is also lower today at Rs. 111,750 per tola, while yesterday it was Rs. 112,250 per tola.
The NEPSE index experienced a decline of 4.73 points, closing at 2,072.24 today, resulting in a loss of 0.23% compared to the previous trading day. Yesterday, the index had a decrease of 0.80 points. Starting at 2,078.25, the index reached a high of 2,084.92 during the day but also dropped to a low of 2,064.52 before settling at 2,072.24 at the end of trading. There were a total of 283 scrips traded through 54,943 transactions, with a total turnover of 7,988,986 shares worth Rs. 2.85 Arba. The turnover amount was lower than the previous trading day’s turnover of Rs. 3.79 Arba.
.Today, the NEPSE index ended at 2,049.44, experiencing a decline of 39.26 points compared to the previous trading day. This translates to a loss of 1.88%. Yesterday, the index had gained 12.73 points. The trading day started with an opening of 2,090.38 and reached a high of 2,101.59 during intraday trading. However, it also dropped to a low of 2,046.55 before closing at 2,049.44. In total, there were 277 scrips traded through 53,103 transactions, with a turnover of Rs. 3.07 Arba, which is higher than the turnover of Rs. 2.57 Arba on the previous trading day.
In the domestic market today, the price of fine gold has decreased by Rs. 600 per tola. The current trading rate for fine gold, according to the Federation of Nepal Gold and Silver Dealers’ Association’s official website, is Rs. 110,000 per tola, compared to yesterday’s rate of Rs. 110,600 per tola. Similarly, the price of tejabi gold has fallen by Rs. 550, with today’s trading rate at Rs. 109,500 per tola, compared to yesterday’s rate of Rs. 110,000 per tola.
Today, the price of fine gold in the domestic market has dropped by Rs. 700 per tola, while the price of tejabi gold has fallen by Rs. 650 compared to yesterday’s rates. According to the official website of the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is currently being traded at Rs. 109,800 per tola, whereas yesterday it was priced at Rs. 110,500 per tola. Similarly, tejabi gold is being traded at Rs. 109,300 today, whereas it was priced at Rs. 109,950 per tola yesterday.
Today, the price of gold has dropped by Rs. 800 per tola in the domestic market in Nepal. Fine gold is now being traded at Rs. 111,000 per tola, down from Rs. 111,800 yesterday. Tejabi gold is priced at Rs. 110,450 today, compared to Rs. 111,250 yesterday.
In addition, silver has also decreased in price by Rs. 25 per tola. It is now being traded at Rs. 1,405 per tola, down from Rs. 1,425 yesterday.
Internationally, gold is currently priced at $1,931.30 per ounce, and silver is priced at $23.33 per ounce.
Today, the price of gold has experienced a decline of Rs. 900 per tola in the domestic market. As reported by the official website of the Federation of Nepal Gold and Silver Dealers’ Association, the current trading rate for fine gold stands at Rs. 111,800 per tola, compared to yesterday’s rate of Rs. 112,700 per tola. Similarly, Tejabi gold is being traded at Rs. 111,250 today, down from the previous rate of Rs. 112,150 per tola.
In addition, the price of silver has also witnessed a decrease of Rs. 25 per tola. The lustrous white metal is currently being traded at Rs. 1,425 per tola in the local market, whereas yesterday’s closing rate was Rs. 1,450 per tola.
It’s worth noting that the international market is reflecting a gold price of USD $1,946.80 per ounce, while silver is being traded at $23.77 per ounce.
These fluctuations in gold and silver prices reflect the dynamic nature of the market and can be influenced by various factors such as global economic conditions, demand and supply dynamics, geopolitical events, and investor sentiment. Investors and individuals involved in the precious metals market closely monitor these price changes to make informed decisions regarding buying or selling gold and silver.
The NEPSE index experienced a decline today, closing at 1,849.79, which marked a decrease of 38.83 points compared to the previous trading day. This equated to a loss of 2.06% in the index value. Over the course of the week, the index has witnessed a decrease of approximately 109.37 points since Sunday.
During the week, the Finance Minister, Dr. Prakash Sharan Mahat, presented the budget for the upcoming financial year, which included several new tax reforms. However, the introduction of these reforms caused some confusion and misinterpretation regarding the restructuring of the existing taxation system in the share market. As a result, panic selling occurred, leading to a decline in the market. Within just two days (Sunday and Tuesday), the market plummeted by 91.99 points.
One of the concerns raised by investors pertained to the treatment of losses incurred during stock market transactions. In response, the Director General of the Inland Revenue Department (IRD), Dirgha Raj Mainali, addressed this issue by announcing a new provision. This provision allows investors to carry forward losses for up to seven years and offers additional tax rebates after adjusting profit or loss for taxpayers. This measure is seen as a positive step to alleviate market concerns and promote investor confidence.
The new tax provisions announced by the Finance Minister include bringing FPO premiums and gains from mergers and acquisitions under the scope of taxation. However, certain sectors such as banking and financial institutions, hydro companies, and insurance companies have consistently maintained their position that such gains should be treated as investments rather than taxable profits.
The market’s decline can be attributed to the uncertainties and apprehensions arising from the new tax reforms. It is important for investors to understand and interpret the provisions accurately to avoid any unnecessary panic selling or volatility in the market. The IRD’s efforts to address investor concerns and provide favorable provisions, such as carrying forward losses and tax rebates, aim to mitigate the impact of the reforms and maintain stability in the market.