NEPSE Market Overview for March 26, 2026
The Nepal Stock Exchange (NEPSE) delivered a positive trading session on March 26, 2026, closing at 2,950.16 points, a gain of 14.22 points or 0.48% from the previous close of 2,935.94. This marks a significant milestone as the benchmark index inches closer to the psychologically important 3,000 level, a barrier that has not been breached in recent trading history.
The Sensitive Index, which tracks the most actively traded stocks, also posted gains, closing at 502.44 with a rise of 0.40%. The Float Index, measuring free-float market capitalization, ended at 202.77, up 0.51%. These three indices all moving in tandem confirms broad-based market participation across large-cap and mid-cap segments.
Trading activity was robust throughout the session. Buyers emerged early in the day and maintained pressure, particularly in the hydropower and manufacturing sectors. The consistent buying interest across multiple sectors suggests genuine investor confidence rather than speculative activity concentrated in a few stocks.
Sector-wise Performance Breakdown
One of the defining features of March 26 trading was the broad market breadth, with 10 out of 12 sectors closing in positive territory. This kind of widespread participation is typically a hallmark of a healthy bull market where gains are not confined to a single sector.
| Sector | Index | Change % |
|---|---|---|
| Hydropower | 4,065.76 | +1.57% |
| Manufacturing | 10,527.90 | +1.51% |
| Hotels | 7,761.14 | +0.81% |
| Others | 2,416.42 | +0.66% |
| Investment | 113.21 | +0.51% |
| Non-Life Insurance | 11,858.96 | +0.43% |
| Banking | 1,550.82 | +0.37% |
| Microfinance | 5,211.85 | +0.20% |
| Finance | 2,652.93 | +0.17% |
| Life Insurance | 13,600.30 | -0.04% |
| Dev Bank | 6,369.68 | -0.06% |
| Trading | 4,155.10 | -2.84% |
The Hydropower sector emerged as the clear leader with a 1.57% gain, pushing its index to 4,065.76. This sector has been on an upward trajectory driven by seasonal expectations of increased power generation during the pre-monsoon and monsoon periods. Stocks like NHPC (+6.24%) and RIDI (+6.19%) were among the top gainers, reflecting strong investor appetite for hydropower assets.
Manufacturing sector performed impressively with a 1.51% gain to 10,527.90, suggesting improved sentiment around industrial output. Hotels sector gained 0.81%, indicating recovery in the tourism segment. The Others sector rose 0.66%, while Investment companies gained 0.51%.
Non-Life Insurance rose 0.43% while Banking gained 0.37%. Despite the modest percentage gain, the Banking sector is significant due to its weight in the index. The Finance sector inched up 0.17%, while Microfinance added 0.20%.
On the losing side, the Trading sector was the worst performer, falling 2.84% to 4,155.10. This sharp decline could be attributed to profit-booking after recent gains or sector-specific concerns. Life Insurance was marginally negative at -0.04%, while Dev Bank dipped 0.06%.
Top Gainers Analysis
The top gainers list on March 26 was headlined by three stocks hitting the upper circuit limit of 10%, the maximum daily gain allowed by NEPSE regulations.
| Symbol | Price (Rs) | Change % |
|---|---|---|
| HFIN | 262.9 | +10.0% |
| RSML | 2,013.1 | +10.0% |
| SKHL | 363.0 | +10.0% |
| BJHL | 434.8 | +9.99% |
| SOHL | 707.1 | +9.99% |
| KBLD89 | 1,346 | +8.11% |
| SCBD | 1,198 | +7.25% |
| NIMBD90 | 1,267 | +6.65% |
| NHPC | 320.0 | +6.24% |
| RIDI | 379.0 | +6.19% |
HFIN closed at Rs.262.9 with a 10% gain, while RSML reached Rs.2,013.1, also gaining 10%. SKHL rounded out the upper circuit trio at Rs.363.0 with a 10% increase. These upper circuit hits indicate extremely strong demand where buyers significantly outnumber sellers, leaving unfilled buy orders at the day's highest permissible price.
BJHL and SOHL came very close to the upper circuit at 9.99% gains, closing at Rs.434.8 and Rs.707.1 respectively. KBLD89, a debenture, gained 8.11% to Rs.1,346, while SCBD rose 7.25% to Rs.1,198. NIMBD90, another debenture instrument, advanced 6.65% to Rs.1,267.
Among the notable gainers, NHPC rose 6.24% to Rs.320.0 with the highest volume of the day at 1,483,269 shares. When a stock leads both the gainers and volume list, it typically signals strong institutional buying interest. RIDI gained 6.19% to Rs.379.0 with 1,218,929 shares traded, further confirming the hydropower theme.
Top Losers Review
Despite the overall positive session, some stocks faced selling pressure, providing a balanced picture of market dynamics.
| Symbol | Price (Rs) | Change % |
|---|---|---|
| PMHPL | 396 | -7.48% |
| SINDU | 833 | -3.58% |
| CORBL | 2,003 | -3.24% |
| BBC | 5,332 | -3.04% |
| NIBLGF | 9.7 | -2.60% |
| NIBSF2 | 9.6 | -2.55% |
| CSY | 9.6 | -2.35% |
| SABBL | 1,683 | -2.09% |
| SBLD89 | 1,240.5 | -1.99% |
| MATRIP | 523.5 | -1.98% |
PMHPL was the biggest loser, falling 7.48% to Rs.396. This sharp decline may be related to company-specific news or profit-booking after an extended rally. SINDU dropped 3.58% to Rs.833, while CORBL fell 3.24% to Rs.2,003. BBC, a high-priced stock, declined 3.04% to Rs.5,332.
Several mutual fund units also faced selling pressure, with NIBLGF, NIBSF2, and CSY declining between 2.35% and 2.60%. This could reflect redemption pressure or portfolio rebalancing by fund managers.
Volume Leaders and Trading Activity
Volume analysis provides critical insights into market conviction. High volume accompanying price increases typically confirms the strength of a move.
| Symbol | Volume (Shares) |
|---|---|
| NHPC | 1,483,269 |
| KBL | 1,376,910 |
| RIDI | 1,218,929 |
| HIDCLP | 913,029 |
| API | 886,037 |
| NGPL | 853,071 |
| AKJCL | 808,838 |
| NBL | 795,076 |
| HDHPC | 763,427 |
| NRN | 571,390 |
NHPC dominated the volume charts with 1,483,269 shares traded, complemented by a 6.24% price increase. This combination of high volume and significant price appreciation is one of the strongest bullish signals in technical analysis. KBL was the second most traded stock at 1,376,910 shares.
RIDI traded 1,218,929 shares with a 6.19% gain, making it another volume-price confirmation in the hydropower sector. HIDCLP traded 913,029 shares, while API saw 886,037 shares change hands. NGPL, AKJCL, NBL, HDHPC, and NRN rounded out the volume leaders with combined trading exceeding 3.7 million shares.
Banking Sector Deep Dive
As the most heavily weighted sector in NEPSE, banking performance significantly influences overall market direction. On March 26, the banking index gained 0.37% to 1,550.82, a modest but steady improvement.
| Symbol | Price (Rs) | Change % |
|---|---|---|
| EBL | 712 | -0.28% |
| SCB | 677 | -0.28% |
| NABIL | 543 | +0.74% |
| SBI | 429.9 | +0.47% |
| SBL | 412.9 | +0.22% |
| NICA | 401 | +0.75% |
| SANIMA | 364.7 | -0.63% |
| ADBL | 333.1 | +0.94% |
| NBL | 288 | +3.26% |
| MBL | 266.9 | -0.04% |
| NMB | 265 | -0.26% |
| PCBL | 262.9 | -0.42% |
| GBIME | 254.8 | +0.87% |
| KBL | 240 | -0.74% |
| LSL | 235 | +0.47% |
| CZBIL | 229 | +1.01% |
| NIMB | 224.5 | +0.31% |
| PRVU | 223.7 | +0.27% |
NBL was the standout performer among banks, surging 3.26% to Rs.288 with 795,076 shares traded. This combination of strong price performance and high volume in a major bank is a positive signal for the sector. CZBIL gained 1.01% to Rs.229, while ADBL rose 0.94% to Rs.333.1.
Among the premium banks, NABIL gained 0.74% to Rs.543, NICA rose 0.75% to Rs.401, and GBIME advanced 0.87% to Rs.254.8. EBL and SCB, the highest-priced banking stocks, both dipped 0.28%, closing at Rs.712 and Rs.677 respectively.
SANIMA was the weakest among major banks, falling 0.63% to Rs.364.7. KBL lost 0.74% despite being the second-highest volume stock of the day, suggesting some distribution at current levels. PCBL declined 0.42% to Rs.262.9.
Macroeconomic Context and NRB Indicators
Understanding the broader macroeconomic context is essential for evaluating market movements. The Nepal Rastra Bank (NRB) data provides important context for the current rally. The repo rate stands at 4.25%, maintaining an accommodative monetary policy stance that encourages borrowing and investment.
The deposit rate at 3.51% means savings returns remain relatively low, incentivizing investors to seek higher returns in equities. The lending rate at 7.00% is manageable for businesses, supporting corporate earnings and economic expansion.
The Credit-to-Deposit (CD) ratio at 74.32% indicates that banks still have room to extend credit without hitting regulatory ceilings, which supports both economic activity and banking sector profitability. The Non-Performing Loan (NPL) ratio at 5.42% is within acceptable ranges, though it bears monitoring. The Capital Adequacy Ratio (CAR) at 12.61% shows banks are well-capitalized to absorb potential shocks.
Market Sentiment and Investor Behavior
The overall market sentiment on March 26 was decisively bullish. Several factors contribute to this assessment. First, the breadth of the rally with 10 of 12 sectors gaining indicates widespread optimism rather than selective buying. Second, three stocks hitting upper circuits shows aggressive buyer demand in specific names. Third, the strong volume in quality stocks like NHPC, KBL, and NBL suggests institutional rather than purely retail participation.
The proximity to the 3,000 psychological level adds an interesting dimension. Such round numbers often act as magnets, drawing the market toward them as momentum builds. However, they can also serve as resistance levels where profit-taking accelerates. The market's behavior over the next few sessions as it approaches 3,000 will be telling.
Investor sentiment is further supported by the favorable interest rate environment. With NRB maintaining accommodative policies and the CD ratio providing room for credit expansion, the fundamental backdrop supports continued equity market participation.
Looking Ahead: Key Levels and Expectations
As NEPSE stands at 2,950.16, the market is positioned at a potentially pivotal level. The immediate resistance lies at the 3,000 psychological mark, which represents both a round number barrier and a likely area of increased selling pressure from profit-takers.
On the support side, the previous close of 2,935.94 now serves as the first level of support, followed by the 2,900-2,920 range which has acted as a consolidation zone. A pullback to these levels, if it occurs, would be healthy and could provide buying opportunities for investors who missed the current move.
Sector rotation patterns suggest that hydropower and manufacturing could continue to lead if the broader trend remains intact. Banking stocks, given their index weight and relatively modest gains on March 26, have room for catch-up moves that could provide the final push toward 3,000.
Traders should watch for volume confirmation on any breakout attempt above 3,000. A breakout with strong volume would suggest the move is sustainable, while a low-volume push above 3,000 might be vulnerable to quick reversals.