Tag: reach

  • 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.

  • Citizen Life Insurance Company’s Q1 Net Profit Rises 1.60%, Maintains Strong Financial Position

    Citizen Life Insurance Company’s Q1 Net Profit Rises 1.60%, Maintains Strong Financial Position


    In its recent disclosure of first-quarter financial results for the fiscal year 2080/2081, Citizen Life Insurance Company Limited (CLI) has reported a modest performance, revealing a 1.60% increase in net profit compared to the corresponding quarter of the previous year. The company’s net profit rose from Rs. 7.03 crores to Rs. 7.14 crores in the reported quarter.

    According to the unaudited report, Citizen Life maintains a robust financial position with a paid-up capital of Rs. 3.75 Arba and a share premium of Rs. 1.55 Arba. Additionally, the company holds Rs. 65.14 crore in retained earnings, Rs. 70.43 crore in other equity, and Rs. 14.5 crore in the contingent fund.

    The net premium of the company experienced a healthy uptick, marking a 3.46% increase to Rs. 1.42 Arba in FY 2080/81 compared to the corresponding quarter of the previous year. Furthermore, Citizen Life generated Rs. 26.64 crores from income derived from investments, loans, and other financial headings.

    However, the company also reported an 11.10% increase in net claims, reaching Rs. 1.28 Arba in the first quarter of the fiscal year 2080/2081. The total number of policies held by the company stood at 207,261 as of the end of Q1.

    Key financial indicators include an annualized earnings per share (EPS) of Rs. 7.63 and a net worth per share of Rs. 181.41. The company’s stock traded at a P/E multiple of 52.33 times.

    Citizen Life recently issued 90,00,000 unit IPO shares at a premium price of Rs. 244 per share to the general public, with the subscription window open from the 15th to the 19th of Bhadra, 2080.

  • SEBON Achieves Record IPO Issuance of 22 Billion in FY 2079/80; Listed Companies Reach 81.61 Arba Market Cap.

    SEBON Achieves Record IPO Issuance of 22 Billion in FY 2079/80; Listed Companies Reach 81.61 Arba Market Cap.


    In the financial year 2079/80, the Securities Board of Nepal (SEBON) achieved a remarkable milestone by approving initial public offerings (IPOs) worth over 22 billion rupees. This surpasses the previous record set in the financial year 2077/78, when SEBON allowed IPOs worth 15 billion 18 crores. Chairman Ramesh Hamal led the effort, breaking the previous record set during Bhishma Raj Dhungana’s tenure.

     

  • “NEPSE Index Surges 63 Points to Reach 14-Month High, All Sectors Close in Green”

    “NEPSE Index Surges 63 Points to Reach 14-Month High, All Sectors Close in Green”


     

    In today’s exciting trading session, the Nepal Stock Exchange (NEPSE) Index had a significant gain of 63.24 points or 2.92% compared to yesterday’s closing. It closed at 2,227.16 points, which is the highest in almost 14 months. The session started at 2,166.47 and reached a peak of 2,228.18 before settling at the closing value. This surge followed a minor loss on Thursday and marks a positive trend in the market.

     

  • “Indian Markets Hit Fresh Record Highs with Sensex Gaining 474 Points, Nifty Nearing 20,000; ITC Joins Rs 6 Trillion Market Cap Club”

    “Indian Markets Hit Fresh Record Highs with Sensex Gaining 474 Points, Nifty Nearing 20,000; ITC Joins Rs 6 Trillion Market Cap Club”


    The stock markets experienced fresh record highs today, with the Sensex surging by 474 points, coming close to reaching the 20,000 mark for Nifty. Among the top gainers, ITC stood out, reaching an all-time high of Rs 492 on the BSE and becoming part of the prestigious Rs 6 trillion market cap club, which includes esteemed companies like Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, Hindustan Unilever, and Infosys.

    Despite some fluctuations in trading, the key domestic indices performed exceptionally well, primarily driven by the excitement surrounding the listing of Jio Financial Services following a special pre-open session for Reliance Industries. The Sensex reached an intraday high of 67,619.17, while the Nifty50 almost touched the significant milestone of 20,000, closing at 19,991.85.

    Sector-wise, most indices concluded the day in positive territory, with the exception of the IT index, which saw a slight decline of 0.66 per cent. Notably, Nifty Pharma, FMCG, healthcare, and Nifty Bank exhibited substantial gains, rising by 1.46 per cent, 1.35 per cent, 1.17 per cent, and 1.13 per cent, respectively. The Nifty Next 50, however, was the only broader market index that experienced a slight drop. Overall, it was a positive and promising day for the markets, with several sectors showcasing significant growth.

  • Gold Prices Reach All-Time High with Rs. 1500 Single-Day Gain

    Gold Prices Reach All-Time High with Rs. 1500 Single-Day Gain


    Gold prices have once again grabbed attention as they reached a record high today. The surge in value amounts to a significant single-day gain of Rs. 1500 compared to yesterday’s price.

    According to the official website of the Federation of Nepal Gold and Silver Dealers’ Association, fine gold is currently being traded at Rs. 112,000 per tola, whereas it was maintained at Rs. 110,500 per tola yesterday. Similarly, Tejabi gold is being traded at Rs. 111,450 today, whereas the rate was held at Rs. 109,950 per tola on the previous day.

    Within a span of two days, the price of gold has risen by Rs. 3900 per tola. The fluctuation in gold and silver prices is partly attributed to the absence of a clear response regarding customs rates related to these precious metals in the budget for 2080/081.

    Just recently, on May 4th, 2023, the price of gold hit an all-time high in the Nepalese market. Fine gold was traded at Rs. 111,800 per tola, while Tejabi gold reached Rs. 111,250 per tola on that day.

    In addition, silver has also experienced a gain of Rs. 20 per tola. The shiny white metal is currently being traded at Rs. 1,395 per tola in the local market, compared to the previous day’s closing rate of Rs. 1,375 per tola.

  • Gold Prices Reach Near All-Time High in Nepalese Market

    Gold Prices Reach Near All-Time High in Nepalese Market


    Gold prices are on the rise in the Nepalese market once again. Today, fine gold gained Rs. 1800 per tola while tejabi gold rose by Rs. 1750 per tola from yesterday’s price. According to the Federation of Nepal Gold and Silver Dealers’ Association’s official website, fine gold is being traded today at Rs. 110,600 per tola, while tejabi gold is being traded at Rs. 110,050 per tola.

    This increase in gold prices comes after the precious metal reached an all-time high in the Nepalese market on 5th April 2023, with fine gold trading at Rs. 111,000 per tola and tejabi gold trading at Rs. 110,450 per tola. Currently, the international price of gold is at USD $2,015.60 per ounce, with silver being traded at $25.24 per ounce.

    On the other hand, silver prices have also risen in the Nepalese market, gaining Rs. 20 per tola. The white metal is being traded today at Rs. 1,425 per tola compared to yesterday’s closing rate of Rs. 1,405 per tola.

    The increase in gold prices can be attributed to various global factors such as inflation fears, economic uncertainties, and geopolitical tensions. In August 2020, gold reached an all-time high of $2074.88 per ounce in the international market, further highlighting its significance as a safe-haven asset. Despite the fluctuation in gold prices, it remains an attractive investment option for many people, especially during times of economic volatility.

  • This week, NEPSE fell by 2.19%

    This week, NEPSE fell by 2.19%


     

    This week’s NEPSE index closed at 1,866.79, a loss of 41.76 points (2.19%). Last week, the index closed at 1,908.55, down 0.34% from the previous week.

    This week, the index reached a high of 1,928.66 and a low of 1856.69, resulting in 71.97 points of volatility. In the previous week, the index experienced 71.44 points of volatility.

  • NEPSE fell by 0.44% today to close at 1,866.79; only three sectors closed in the green.

    NEPSE fell by 0.44% today to close at 1,866.79; only three sectors closed in the green.


    The NEPSE index closed at 1,866.79 today, down 8.28 points from the previous trading day’s close. This is a 0.44% decrease. Yesterday, the index rose 8.39 points.

    The index opened today at 1,875.88 and reached an intraday high of 1,888.82. In contrast, it dropped as low as 1,864.51 before closing at 1,866.79.

    Through 23,388 transactions, 269 scrips changed hands. A total of 2,870,819 shares were traded, totaling Rs. 92.06 crores in turnover. This exceeds the previous trading day’s turnover of Rs. 81.6 Crores.

     

  • Gold sets a new all-time high, gaining Rs 2000 per tola in a single day to trade at Rs 111,000.

    Gold sets a new all-time high, gaining Rs 2000 per tola in a single day to trade at Rs 111,000.


    Gold prices continue to break all-time highs. Today’s increase is due to a single-day gain of Rs. 2000 in fine gold, while tejabi gold has climbed by Rs. 1,950 from yesterday’s price.

    According to the Federation of Nepal Gold and Silver Dealers’ Association’s official website, fine gold is now trading at Rs. 111,000 per tola. Yesterday, the tariff remained unchanged at Rs. 109,000 per tola. Meanwhile, Tejabi gold is currently trading at Rs. 110,450. In contrast, the cost was kept at Rs. 108,500 per tola yesterday.

    On March 19, 2023, the price of gold reached an all-time high on the Nepali market. Fine gold cost Rs. 110,000 a tola, while tejabi gold cost Rs. 109,500.