Tag: Nepal

  • Devastating Fire at Bharat Furniture: A Costly Setback for the Industry

    Devastating Fire at Bharat Furniture: A Costly Setback for the Industry


    A devastating fire broke out at Bharat Furniture, located in Matihani-8 of the district, causing extensive damage estimated at over Rs 3.5 million. Owned by Dukhmochan Thakur, the furniture industry fell victim to the blaze, which ignited around 10:00 pm on Monday, as reported by the District Police Office, Mahottari. The inferno swiftly engulfed the premises, consuming furniture and raw materials stored within the establishment.

    Efforts to combat the fire involved teams comprising the Armed Police Force, Nepal Police, and local residents, supported by a fire engine. Despite their collaborative endeavors, the true extent of the damage inflicted by the fire is currently under assessment, highlighting the substantial setback experienced by Bharat Furniture and its proprietor, Dukhmochan Thakur.

  • Extraordinary Surge: Gold Prices Reach All-Time Highs in Nepal

    Extraordinary Surge: Gold Prices Reach All-Time Highs in Nepal


    Recently, the gold market in Nepal has experienced an unprecedented surge, reaching a new all-time high on April 9, 2024. The Federation of Nepal Gold and Silver Traders’ Association reported a notable increase of Rs. 100, pushing the price of fine gold to an exceptional rate of Rs. 1,36,300 per tola, up from its previous rate of Rs. 1,36,200. Similarly, Tejabi gold, another highly sought-after variant, also witnessed a consecutive increase of Rs. 100, now valued at Rs. 1,35,650 per tola, compared to its previous rate of Rs. 1,35,550.

    Just a day earlier, on April 8th, 2024, fine gold had surged to an all-time high of Rs. 1,36,200 per tola. However, in contrast, the price of silver has remained steady at Rs. 1,685 per tola in the domestic market.

    Despite the domestic market’s upward trend in prices, the international market plays a significant role in influencing these changes. The latest update reveals that the current gold rate stands at $2,344.00 per ounce globally. Meanwhile, silver prices remain constant at $27.81 per ounce internationally.

    These fluctuations in both domestic and international gold and silver markets highlight the dynamic nature of precious metal trading and its susceptibility to various economic factors. Investors and traders must closely monitor these trends to make informed decisions in the precious metals market.

  • Global IME Ltd. Debenture Delisting: Implications and Refund Process

    Global IME Ltd. Debenture Delisting: Implications and Refund Process


    In a significant development, 1,500,000 units of the “10.25% Global IME Ltd. Debenture 2080/81” have been removed from trading on the Nepal Stock Exchange (NEPSE). This move holds implications for investors and marks the culmination of the debenture’s tenure.

    The “10.25% Global IME Ltd. Debenture 2080/81” reached its maturity date in Chaitra, 2080, offering a lucrative 10.25% annual return to unitholders throughout its term. With its delisting, Global IME Ltd. is now set to initiate the process of refunding the seed fund and distributing the accrued interest to its unitholders. This step signifies the completion of the debenture’s cycle and highlights the company’s commitment to its investors.

    For unitholders seeking detailed information on the refund process and interest distribution, Global IME Bank Limited stands ready to assist. Unitholders are encouraged to reach out to or visit the nearest branches of Global IME Bank Limited, conveniently located in Kamaladi, Kathmandu, Nepal.

     

  • NEPSE Index Update: Insights into Nepal’s Stock Market Movement

    NEPSE Index Update: Insights into Nepal’s Stock Market Movement


     

    The Nepal Stock Exchange (NEPSE) Index exhibited a positive trajectory, recording a gain of 0.45% or 9.19 points, closing at 2,036.01 points by the end of today’s trading session. This follows a notable increase of 22.75 points in the previous session, indicating a dynamic market environment.

    Opening at 2,035.2 points, the trading day was characterized by fluctuations, with the index reaching an intraday high of 2,046.61 points before dipping to an intraday low of 2,030.44 points. Such variations underscore the active participation of investors and the responsiveness of the market to various factors.

    Amidst this bustling trading environment, a total of 315 different stocks were traded in 72,261 transactions. The volume of shares traded amounted to 9,789,416, reflecting a total turnover of Rs. 4.14 Arba. The market capitalization closed at Rs. 32.28 Kharba, with a float market capitalization of Rs. 10.89 Kharba, indicating significant financial activity within NEPSE.

    One standout highlight of the day was SuryaJyoti Life Insurance Company Limited (SJLIC), which garnered a turnover of Rs. 18.08 Crore and closed at a market price of Rs. 499.10. Additionally, three companies experienced positive circuit movements, contributing to the overall market dynamics.

    However, Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB) faced a decline, losing 10% to close at Rs. 1,511.10. Such fluctuations in individual stock performance highlight the inherent risks associated with stock market investment.

    In terms of sector performance, three Sector Indices concluded in negative territory, with the “Finance Index” leading with a gain of 2.79%. Conversely, the “Manufacturing And Processing Index” witnessed a decline of 1.46%, showcasing sector-specific trends within NEPSE.

    In conclusion, the latest NEPSE trading session provides valuable insights into the dynamics of Nepal’s stock market movement. Investors should remain vigilant and informed to navigate fluctuations and capitalize on investment opportunities.