Beed’s take on the market : April 10 to May 15, 2026

The Nepal Stock Exchange (NEPSE) index decreased significantly by 105.84 points (-3.73%) to close at 2,731.94 points during the period from April 10 to May 15. The market started with a downtrend, reaching an intraday low of 2,684.62 points on May 5. However, the stock market gained a few points after that and ultimately closed at 2,731.94 points on May 15. Market turnover decreased significantly by 52.91% compared to the previous review period, which had recorded a 69.24% increase. The significant downtrend in the market coupled with a notable decrease in turnover signals lacking investor confidence. (see figure 1)

During the review period, all sub-indices recorded losses. Finance, OtheRs and Hydropower sub-indices recorded the steepest declines whereas Trading and Hotels and Tourism sub-indices experienced comparatively modest falls.

OtheRs sub-index recorded the highest decline of 7.74%, driven by sharp falls in the share prices of Nepal Reinsurance Company (-Rs 151.0), Himalayan Reinsurance (-Rs 125) and Muktinath Krishi Company (-Rs 87.2). Finance sub-index declined by 5.27% with drop observed in the share prices of Nepal Finance (-Rs 56.8), Multipurpose Finance Company (-Rs 50.2) and Central Finance (-Rs 35.9).

Meanwhile Hydropower sub-index weakened by 4.86% weighed down by decrease in Bhujung Hydropower (-Rs 261.8), Mai Khola Hydropower (-Rs 250) and Super Khudi Hydropower (-Rs 149.1). Likewise, Life Insurance sub-index declined by 3.85% with substantial decrease in the share prices of Guardian Micro Life Insurance (-Rs 275), Crest Micro Life Insurance (-Rs 175) and Nepal Life Insurance (-Rs 24).

Microfinance sub-index fell by 3.82% with steep decline coming from Aatmanirbhar Laghubitta Bittiya Sanstha (-Rs 348.1), Swastik Laghubitta Bittiya Sanstha (-Rs 314.9) and Manushi Laghubitta Bittiya Sanstha (-Rs 185.8). Similarly, Non-Life Insurance sub-index decreased by 3.76%, driven by decrease in the share prices of Nepal Micro Insurance Company (-Rs 187.5), NLG Insurance Company (-Rs 73) and Prabhu Insurance (-Rs 47.3).

Development Bank sub-index fell by 3.58% with notable decrease in the share prices of Salapa Bikas Bank (-Rs 375), Narayani Development Bank (-Rs 250.6) and Saptakoshi Development Bank (-Rs 100). Manufacturing and Processing sub-index decreased by 3.56% due to sharp price fall in Reliance Spinning Mills (-Rs 985), Unilever Nepal (-Rs 790) and SY Panel Nepal (-Rs 319).

The Commercial Bank sub-index fell by 2.09% with declines in the share prices of NIC Asia Bank (-Rs 17.1), Nepal Investment Mega Bank (-Rs 15.7) and Kumari Bank (-Rs 12.8). The Hotels and Tourism sub-index lowered by 0.98% with fall in Bandipur Cable Car and Tourism (-Rs 93.1), City Hotel (-Rs 77) and Kalinchowk Darshan (-Rs 50).
Finally, the sub-index recording the smallest deterioration was Trading falling by just 0.22%, with decline in Bishal Bazar Company (-Rs 27). (see table 1)

News and Highlights 

On April 17, the Chairperson of Securities Board of Nepal (SEBON) resigned from his post after leading the board for over 16 months.

On February 24, Nepal Rastra Bank (NRB) rolled out the third quarter review of Monetary Policy for Fiscal Year 2025/26. The central bank kept key monetary tools including the interest rate corridor, bank rate, cash reserve requirement (CRR) and statutory liquidity ratio (SLR) unchanged in its review. However, the review noted that the provisions related to the Standing

Deposit Facility (SDF) provided to banks and financial institutions would be studied to make the interest rate corridor more effective.

Similarly, SEBON approved the Initial Public Offering (IPO) proposals of five companies. Kalanga Hydro aims to raise Rs 490 million with Sanima Capital as issue manager. Sanigad Hydro plans to raise Rs 855 million with Laxmi Sunrise Capital as issue manager. Mount Everest Power Development aims to raise Rs 258 million with NIMB Ace Capital as issue manager. Sarvottam Paints Industries aims to raise Rs 85 million with Global IME Capital as issue manager and Everest Colour plans to raise Rs 79 million with Muktinath Capital as issue manager. 

Further, SEBON added four companies to the IPO pipeline. Doleswor Village Resort and Farm House plans to raise Rs 162 million with Citizens Capital as issue manager, while KTM Hospitality seeks to raise Rs 155 million with RBB Merchant Banking as issue manager. Meanwhile, Asian Concreto intends to raise Rs 106.25 million and Bhagawati Steel Industries aims to raise Rs 349.5 million, both with Nabil Investment Banking as issue manager.

Outlook 

Declines across all sectoRs point to weakening investor confidence. Limited monetary easing and the vacuum in leadership of SEBON add uncertainty, likely prolonging the downturn.

StakeholdeRs are awaiting the upcoming fiscal policy for signs of reform-driven optimism. A meaningful trend reversal remains unlikely without clear signs of market stabilisation and policy stimulus from the federal government and regulatory bodies. 

This is an analysis from beed Management. No expressed or implied warranty is made for the usefulness or completeness of this information, and no liability will be accepted for the consequences of actions taken based on this analysis.