Global Markets tumble as Corona Virus cases surge

Currently there are 27 commercial banks in Nepal.  Let’s look how they performed up to second quarter of Fiscal Year 2076/77. Note: In above data, Janata Bank's Net Profit is excluded from calculation as it recently merged with Global IME Bank to depict true position of Global IME bank. Highest Net Profit: As we can see, Rastriya Banijya Bank earned the highest Net Profit i.e. Rs. 2.20 arba among the existing commercial banks of Nepal up to the second quarter of FY 2076/77 followed by Nabil Bank in second position which posted a net profit of Rs. 2.04 arba up. Lowest Net Profit: Civil bank reported the lowest Net profit up to the second quarter of FY 2076/77 i.e. Rs. 31.6 crore followed by Citizens Bank International with the net profit of Rs. 68.7 crore. Rate of change in Net Profit: NMB bank’s net profit in this second quarter of FY 2076/77 increased by 47% in comparison to the net profit of second quarter of FY 2075/76. Nepal Bank’s net profit declined by 18%...

Opening Bell at the NYSE    US markets tried to bounce back after a massive losing day yesterday where the Dow dropped 1032 points in a single trading day. Experts say that Corona virus is the reason behind the nervous Wall Street along with the rise of Bernie Sanders who is not viewed quite positively by the Wall Street. Today, markets started with a sigh of improvement but analysis said the start is really poor given the fact that markets would have tried to bounce back strongly after a big loss. After the loss US President Donald Trump tweeted "S tock Market starting to look very good to me!". Big news on the day is the news about a possible merger between HP and XEROX. Stock markets remain highly affected and a short term bearish movement is clearly visible. Major indicators have started to drop again after Spain confirms it's first Corona virus case. A Look at the Nepalese Capital Market While all major Global stock markets are declining, Nepal's o...

STOCKS SELLING OFF Opening Bell at the NYSE Dow down 3%🔻 Nasdaq down 3% 🔻 Gold up 2%⬆️ Oil down 4%🔻 US markets open with the stock markets plummeting more than 3%. Dow Jones Industrial Average and NASDAQ fell more than 3% as investors fear that the surging cases of Corona virus throughout the globe could lead to global economic downfall. Similarly, WTI Crude Oil lose more than 4% with the fears of less economic activities. As a result Investors go with the so called safe haven i.e. GOLD. The popular gold index of NYSE HUI Gold Index gained more than 2 % . Global Markets looking highly volatile as the cases surge. Looking forward for the full trading day of the NYSE !