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The Nepal Stock Exchange (NEPSE) index plunged by 63. 54 points to close at 2,547.04 points on Wednesday. 

Similarly, the sensitive index fell 11. 38 points to reach 488. 83 points.

A total of 7,652,204 units of shares of 2329 companies were traded for Rs 3.62 billion.

Likewise, all sub-indices saw red in today’s market with Non Life Insurance on the top of the table. 

Meanwhile, Reliance Life Insurance Limited was the top gainer today with its price surging by 4 percent. Likewise, Himalayan General Insurance Co. Limited was the top loser with its price dropped by 8.26 percent. 

At the end of the day, total market civilization stands at Rs 3.60 trillion.

As many as one million revelers offered prayers at the Pashupatinath main temple on the Mahashivaratri festival on Tuesday. 

According to the Pashupati Area Development Trust, the prayers and worship that started at Pashupati temple on Tuesday evening continued till  5: 10 am today morning. 

The inflow of devotees was high at the temple area in the evening time than in morning and day, shared Gurjo campaigner Kamal Bahadur Rajalbat. He had freely served devotees with tea made up of different 60 types of herbal plants including Gurjo on the occasion of Mahashivaratri. 

Likewise, thousands of devotees had offered prayers and worship at Gokarneswor Temple on the occasion. Visitors thronged the temple for worshipping Lord Shiva yesterday night. RSS

The recent acrimonious debate on the MCC Nepal compact owed partly to the Nepali political parties’ inconsistent foreign policy thinking. Typically, top party leaders take most foreign policy-related decisions with little or no inputs from the rank and file. The ensuing confusion is then reflected in the country’s muddled foreign policy approach. Thankfully, we also get some things right. On the compact, there was a broad political consensus in the end. The country’s latest stand on Ukraine is also laudable.

Issuing a statement, the Ministry of Foreign Affairs condemned Russia’s unprovoked invasion of Ukraine, rightly arguing that the “recognition of Ukraine’s Donetsk and Luhansk regions as independent entities goes contrary to the provisions of the UN Charter.” Nepal, the statement went on, “opposes the use of force against a sovereign country in any circumstance.” Later, Nepal voted in favor of an urgent debate on the Ukraine crisis at the UN Human Rights Council.

Russia’s invasion imperiled the lives and livelihoods of over 400 Nepalis who were living in Ukraine and are now scrambling to get out. It is natural for the government of Nepal to be concerned about them. But more than that, it is a matter of standing up for what is right. Some laughed off Nepal’s statement on Ukraine: what does the stand of a relative non-entity in international power politics matter? This is selling the country short.

As a sovereign state, Nepal has every right to freely express its views on any issue. But as a responsible member of the international community, it also has responsibilities. On the face of such blatant crime against humanity and aggression against a small state, staying silent or issuing a mealy-mouthed ‘diplomatic’ statement would have been cowardice.

Nepal hasn’t always gotten its foreign policy act right. And we are rather quick to criticize our government and foreign policy establishment when they make diplomatic blunders. But, by the same token, when they do something right, their efforts should be appreciated too. So, again, kudos to the government for its strong stand on Ukraine whose 44m people need all the help they can get right now.

The meeting of the House of Representatives has been postponed till 1 pm on March 6.

Minister of Law, Justice, and Parliamentary Affairs Dilendra Prasad Badu on behalf of Prime Minister Sher Bahadur Deuba presented the annual report of the National Information Commission in today’s Parliament meeting.

Soon after the commencement of the meeting, the main opposition CPN-UML lawmakers chanted slogans demanding resignation of Speaker Agni Prasad Sapkota.

Chief Minister of Gujrat Bhupendra Rajnikant has been invited to participate in Nepal-India Partnership Summit which will take place in Kathmandu soon.

Vice President of Nepal-India Chamber of Commerce & Industry (NICCI) Sunil KC invited Rajnikant to take part in the Summit. 

According to KC, Chief Minister has agreed to attend the Summit as a chief guest of the program. According to NICCI, the duo will also discuss a wide range of bilateral issues.

US President Joe Biden warned Vladimir Putin that the Russian leader “has no idea what’s coming”, as Western nations tightened an economic noose around Russia, whose invading forces bombarded Ukrainian cities and appeared poised for an advance on Kyiv, Reuters reported.

Hundreds of thousands of Ukrainians have fled the fighting since Putin ordered a full-scale invasion nearly a week ago, with a miles-long Russian military convoy north of Kyiv readying to advance on the capital.

Yet, Russia has failed to capture a Ukrainian single major city and Western analysts say Moscow appears to have fallen back on tactics which call for devastating shelling of built-up areas before entering them.

“While he may make gains on the battlefield – he will pay a continuing high price over the long run,” Biden said in his State of the Union address. Straying from the prepared text, Biden added “He has no idea what’s coming.” He did not elaborate.

US lawmakers stood, applauded and roared, many of them waving Ukrainian flags and wearing the country’s blue and yellow colours, as Biden delivered his address to the chamber of the House of Representatives.

A senior US defense official said on Tuesday the invading force’s advance on Kyiv has stalled due to logistics problems, including shortages of food and fuel, and some units appeared to have low morale.

The official, who spoke on condition of anonymity, told reporters that it was unclear whether the convoy itself had stalled, but it was not making much progress.

Ukrainian President Volodymyr Zelenskiy called on Russia to stop bombarding civilians and resume talks.

“It’s necessary to at least stop bombing people, just stop the bombing and then sit down at the negotiating table,” he told Reuters and CNN in a joint interview in a heavily guarded government compound in Kyiv.

The United Nations General Assembly is set to reprimand Russia on Wednesday for invading Ukraine and demand that Moscow stop fighting and withdraw its military forces, a move that aims to diplomatically isolate Russia at the world body.

By Tuesday evening nearly half the 193-member General Assembly had signed on as co-sponsors of a draft resolution ahead of a vote on Wednesday, diplomats said. The text “deplores” Russia’s “aggression against Ukraine.”

Putin ordered the “special military operation” last Thursday in a bid to disarm Ukraine, capture the “neo-Nazis” he says are running the country and crush its hopes of closer ties to the West.

The Millennium Challenge Corporation (MCC) has acknowledged the Federal Parliament of Nepal’s decision to ratify the $500 million compact between MCC and the Government of Nepal on February 27. 

Issuing a statement on Tuesday, the MCC said that the decision to ratify the Nepal Compact has always rested with the Government of Nepal as a sovereign democratic nation.

"Ratification of the compact enables work to continue towards implementing the five-year program, which will create the conditions for a more reliable supply of electricity, lower transportation costs, and help create more jobs for the Nepali people," the statement read.

The Government of Nepal signed the MCC grant in 2017 after determining its goals to modernize Nepal’s energy and transportation sectors with the hope of helping more than 23 million Nepalis, which is nearly 80 percent of the total population.

This year marks the 75th year of diplomatic relations between Nepal and the United States. During these 75 years, Nepal has seen monumental and incredible changes. MCC and the American people have stood with Nepal through these changes and supported the country with development aid, disaster response and preparedness assistance, health and education programs, and more, the statement further read.

"The United States’ relationship with Nepal is broader than one agreement, and we will continue to support the country, its democratic values, and its long-term economic prosperity," the MCC said.

In the nearly 20 years since its inception, MCC compacts have helped alleviate poverty around the world by forming partnerships with developing countries that are committed to economic freedom, investing in their citizens, and good governance, which includes promoting democratic principles and combatting corruption.

The price of the gold has increased by Rs 1,900 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers' Association, the yellow metal is being traded at Rs Rs 99,500 per tola today.

It was traded at Rs 97,600 per tola on Tuesday, the Association said.

Meanwhile, tejabi gold is being traded at Rs 99,000 per tola today.

Similarly, the price of silver rose by Rs 40 per tola and is being traded at Rs 1,375 per tola.